CHENNAI: A consortium of Adani Ports and Special Economic Zone Ltd (APSEZ) and Israel’s Gadot Group has won the tender to privatise the Port of Haifa, the second largest port in Israel, amidst stiff competition from local and global players.
Through the winning bid, the Adani-Gadot consortium has secured the rights to buy 100% shares of Haifa Port Company Ltd. The consortium of APSEZ and Gadot Group was formed with their respective shares of 70% and 30%. The consortium’s offer was
NIS 4.1 bn, equivalent to $1.18 bn.
The concession period of the Port of Haifa remains up to 2054, as per a release. “This is one of the many steps we are taking to transform APSEZ into a global transport utility that will include logistics and warehousing,” said Karan Adani, Wholetime Director & CEO, APSEZ. “Our portion of the investment is being funded through internal accruals. In the long run, this is a tremendous port as we anticipate Israel becoming a connection both for Europe and the Middle East, and therefore we stand to be benefit from the new possible trade lanes that will get created”, he said. Haifa Port Company Ltd, for which APSEZ and Gadot made their successful bid, operates the Port of Haifa, one of the two biggest commercial ports in Israel. The port, which handles nearly half of Israel’s container cargo, is also the country’s principal port for passenger traffic and cruise ships.