Ahmedabad (16.07.2022): A consortium of Adani Ports and Special Economic Zone Ltd (APSEZ) and Israel’s Gadot Group has won the tender to privatize the Port of Haifa, the second largest port in Israel.

The consortium has secured the rights to buy 100% shares of Haifa Port Company Limited (HPC), which operates the Port of Haifa. The concession period of the Port of Haifa remains until 2054.

“This is one of the many steps we are taking to transform APSEZ into a global transport utility that will include logistics and warehousing,” said Karan Adani, whole-time director and CEO, APSEZ.

The consortium of APSEZ and Gadot Group was formed with their respective shares of 70% and 30%. The consortium’s offer was equivalent to US $1.18 billion.

“In the short term, we look forward to developing strategic trade lanes between our ports in India and Haifa and help facilitate trade between the two countries, diversifying the port cargo as well as leveraging our expertise to increase the operational efficiencies. In the long run, this is a tremendous port as we anticipate Israel becoming a connection both for Europe and the Middle East, and therefore we stand to benefit from the new possible trade lanes that will be created,” Adani added.

APSEZ's portion of the investment is being funded through internal accruals.

Opher Linchevski, CEO, Gadot, said, “The length of the lease and the growth that we anticipate in the Israel economy, as well as the surrounding regions, means we are well-positioned to invest to build one of the best ports in this region.”

The port, which handles nearly half of Israel’s container cargo, is also the country’s principal port for passenger traffic and cruise ships. The existing infrastructure includes two container terminals and two multi-cargo terminals. The total developed quay length measures at least 2,900 metre. The maximum draft available ranges from 11 metre to 16.5 metre.