FCC

Adani Ports acquires Israel’s second largest port

2022-07-19

The second-largest port in Israel, Haifa Port, has been privatised thanks to a partnership by Adani Ports and Special Economic Zone (APSEZ) and Gadot Group, the business announced in an index filing. The Adani-Gadot group has obtained the right to acquire all of the shares of Haifa Port Company. through the successful bid. The Port of Haifa is still under concession until 2054.

“Needless to say, we are delighted to win the privatisation 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, Wholetime Director & CEO, APSEZ.

"Our partnership with Adani blends the best of two worlds – our expertise in handling cargo in Haifa Port and Adani's world class capability in managing port operations," said Mr Opher Linchevski, CEO of Gadot. "The length of the lease and the growth that we anticipate in the Israel economy as well as the surrounding regions means we are well positioned to invest to build one of the best ports in this region."