Adani Group-led JV wins bid to privatise Israel’s Haifa Port

New Delhi, July 15

A consortium of Adani Ports and Special Economic Zone (APSEZ) and Gadot Group has won the tender to privatise the Port of Haifa in Israel for $1.18 billion (about Rs 9,422 crore). Through the winning bid, APSEZ said the consortium has secured the rights to buy 100% shares of Haifa Port Company Ltd.

According to an APSEZ statement, the concession period of the Port of Haifa remains up to 2054 and Adani Ports and Gadot Group hold 70% and 30% stake, respectively in the consortium.

“The consortium’s offer was NIS 4.1 Bn, equivalent to $1.18 billion,” it added. NIS (New Israeli Shekel) is the currency of Israel.

Commenting on the development, APSEZ CEO Karan Adani said this is one of the many steps the company is taking to transform APSEZ into a global transport utility that will include logistics and warehousing. He said this win gives APSEZ a much larger presence in Israel, one of India’s most strategic partners, with whom Adani Group has been working for six years to build a network of relationships across several industries. — PTI

Rs 9,422-crore mega contract

• Adani Ports and Special Economic Zone (APSEZ) said the consortium has secured the rights to buy 100% shares of Haifa Port Company Ltd
• The concession period of the Port of Haifa remains up to 2054 and Adani Ports and Gadot Group hold 70% and 30% stake, respectively