Adani Ports and Special Economic Zone (APSEZ), a part of the domestic giant Adani Group, and the Gadot Group Consortium have won the tender for the privatization of the Port of Haifa in Israel.
This will give the consortium the right to buy 100 percent of the shares in the Haifa Port Company, which manages the Port of Haifa. Adani Ports will own 70 percent and Gadot Group will hold 30 percent, according to APSEZ's statement.
The deal is valued at $1.18 billion (roughly Rs. 9,422 crore). Karan Adani, CEO of the company, said that this is a key step towards making APSEZ an international logistics, warehousing and transportation giant.
He explained that this will help India expand its operations in Israel, which is one of India's most important strategic partners, as well as in the ports sector in Europe. Gadot CEO Ofer Linchewski stated that the partnership with APCES will be of great help in further developing Haifa Port. He said that they and Adani Group have vast experience in cargo handling and port operations, which will be useful for further development of Haifa Port.
The Port of Haifa is located near Haifa, the third largest city in Israel. In 2021, 1.46 million TEU (Twenty Foot Equivalent Units) containers and 2.56 million tonnes of cargo were handled here. APSEZ, on the other hand, continues to be the transport business arm of the Adani Group.
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