Another feather in India’s cap—Israel sold its Haifa port to Adani group for $1.2 billion!
Adani Ports on July 14 won the tender for privatisation of Israel’s Haifa Port, a major trade hub on the country’s Mediterranean coast, as per a statement issued on social media by Gautam Adani.The bid was won by Adani Ports along with its Israeli partner Gadot, a local chemical and logistics group.”Delighted to win the tender for privatization of the Port of Haifa in Israel with our partner Gadot. Immense strategic and historical significance for both nations (sic),” Gautam Adani, the chairman of Adani Group, tweeted.
Importance of Haifa:
▶️ One of the largest ports in East Mediterranean and largest port in Israel.
▶️Part of Indo-Arab-Mediterranean corridor.
▶️Adanis’ll now compete with a port in Israel run by China. Shanghai Int’l port group (SIPG) runs a port in Northern Israel, which began operating in 2021.
▶️Haifa is a naturally deep harbour.
Adanis with 70% of stake have partnered with Gadot group to invest in Haifa. They have won tender to run the Haifa port till 2054, confirms Reuters.
Adanis had also invested into Colombo Port, Sri Lanka, last year. Adani Group has a 51% stake at the port’s Western Container Terminal (WCT) of Sri Lanka. Though the deal has run into a mild controversy now but it’s exhilarating to see India expanding it’s horizons.