Haifa port sold for $1 billion in finalized privatization deal
The full privatization of Haifa Port was successfully completed, according to Israel’s Finance Ministry. The transaction was negotiated for 4 billion shekels ($1.15 billion) through a joint venture between the Israeli enterprise Gadot Chemical Terminals and the Indian giant Adani Ports and Special Economic Zone Ltd (APSEZ).
The port, which was previously state-owned and is the largest of Israel’s three main international seaports, is situated in Northern Israel. The successful bids were originally revealed by Israel in July 2022. Adani Ports will own 70% of the company, and Gadot will own the final 30%. Five years have passed since the sale of Haifa Port began.
The privatization is a part of a plan to expand services, increase competition, support imports, and lower living costs.
Source – Port Technology
