Eurasianization of Israel continues with privatization of Port of Haifa to India
Port of Haifa sold for $1.15 billion
01/11/2023
A consortium of the Adani Group conglomerate, led by Indian billionaire Gautama Adani, has completed the purchase of the Israeli port of Haifa, Israel's busiest port. This is with reference to the Israeli Ministry of Finance reports JPost. The Israeli chemical industry company Gadot Group became a co-owner of the port. The deal amounted to 4 billion shekels (about $1.15 billion).
Adani operates 13 maritime terminals in India and accounts for about 25% of the country's maritime trade. The billionaire won the tender for the privatization of the port back in the summer and immediately stated that the purchase is of “huge importance for both countries”, as it will lead to the development of maritime communication between Asia and Europe and “satisfy the needs of Asian players in a hub in the Mediterranean”.
Recall that in 2021, the Bay Port container terminal was launched in Haifa, operated by the Chinese company Shanghai International Port Group, which manages the operation of the port of Shanghai.