An Adani Group-led group, in collaboration with Israel's Gadot Group, will pay $1.8 billion for the firm that operates the country's enormous Haifa Port. They obtained the right to purchase 100 percent of the shares of Haifa Port Company Ltd for a period of up to 2054. Haifa, located in northern Israel, is one of the country's two largest commercial ports, handling approximately half of Israel's container freight as well as being a major port for passenger traffic and cruise ships.
Adani Ports and Special Economic Zone Ltd (APSEZ) and Gadot Group own 70% and 30% of the consortium, respectively. The firm claims to have won the contest to privatize the Port of Haifa, despite fierce competition from local and international parties.
"We are delighted to win the privatization tender of the Port of Haifa, and 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, APSEZ's whole-time director, and CEO. This victory is strategic for us in various ways. It offers us a much stronger presence in Israel, one of India's most strategic allies, with whom the Adani Group has been building a network of ties across many industries for the past six years."
"In the medium term, we anticipate building strategic trade routes between our ports in India and Haifa to promote commerce between the two nations, diversify port cargo, and leverage our experience to boost operating efficiencies." Our side of the investment is supported by internal accruals, and we are pleased to collaborate with Gadot, a dependable partner we have known for many years. In the long run, this is a fantastic port because we foresee Israel being a connector for both Europe and the Middle East, and therefore we stand to gain from the new potential trade lanes that will be formed," Karan Adani said.
"Our relationship with Adani merges the best of two worlds," Gadot CEO Opher Linchevski said. "Our competence in processing cargo in Haifa Port and Adani's world-class capacity in managing port operations." Because of the lease's term and the expected expansion in the Israeli economy and neighboring regions, we are ideally positioned to invest in building one of the greatest ports in the region."
The Port of Haifa is located in northern Israel, around 90 kilometers from Tel Aviv. It is located near Haifa, Israel's third largest city. It is also one of Israel's key industrial districts. The Haifa Port Company Ltd operates the port and has real estate suitable for the construction of office spaces, hotels, tourism, and other recreational activities. Haifa Port's present infrastructure includes two container terminals and two multi-cargo terminals. The overall developed quay length exceeds 2,900 meters. The available maximum draught varies from 11 to 16.5 meters.
Haifa Port features a RORO, a cruise terminal with numerous passenger amenities, and a 2 km shoreline for expansion. HPC handled 1.46 million TEUs of containers and 2.56 million tons of general and bulk cargo in 2021.