Adani Ports consortium acquires Israels Haifa Port

15 Jul 2022 , 12:02 PM

A consortium of Adani Ports and Special Economic Zone (APSEZ) and Israels Gadot Group has won the tender to privatise the Port of Haifa, the second largest port in Israel, amidst stiff competition from local and global players. Through the winning bid, the Adani-Gadot consortium has secured the rights to buy 100% shares of Haifa Port Company. The concession period of the Port of Haifa remains up to 2054. The consortium of APSEZ and Gadot Group was formed with their respective shares of 70% and 30%. The consortiums offer was NIS 4.1 Bn, equivalent to USD 1.18 Bn. With the acquisition of the Port of Haifa, Adani Ports and Special Economic Zone will expand its footprint into the European port sector, which includes the lucrative Mediterranean region. Located towards the north of Israel, adjacent to the city of Haifa and about 90 km away from Tel Aviv, the key commercial city of Israel. The existing infrastructure at Haifa Port includes two container terminals and two multi-cargo terminals. The total developed quay length measures more than 2,900 metres. The maximum draft available ranges from 11 metres to 16.5 metres. Haifa Port has a Roll-on Roll-off (RORO), a cruise terminal with various passenger facilities and a waterfront length of 2 km for development. During 2021, HPC handled 1.46 Mn TEUs of containers, 2.56 Mn tons of general and bulk cargo.Powered by Capital Market – Live News