Israel will sell its Haifa Port, to winning bidders Adani Ports and local chemicals and logistics group Gadot for ILS 4.1bn ($1.18bn). As per an industry official, Adani will have a majority 70% stake and Gadot will hold the remaining 30%. Adani and Gadot made completed a two-year tender process that Israel hopes will lower import prices and reduce wait times at Israeli harbors. Haifa Port is a major trade hub along Israels’ Mediterranean coast and has been in operation for over 100 years, handling 50% of Israel’s freight volume in 2021. Adani Ports, said that it is targeting an expansion to become the premier global port group. Both Adani and Gadot will now operate the port until 2054 and will focus on handling containers, general cargo and hosting cruises.
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