Adani To Boost Trade Lanes With Joint Haifa Port Acquisition
NDTV
Adani Ports and Special Economic Zone said its acquisition of Haifa Port with a local Israeli partner will boost trade lanes with the company's Indian ports and could better connect Europe and the Middle East in the longer term.
Adani Ports and Special Economic Zone said its acquisition of Haifa Port with a local Israeli partner will boost trade lanes with the company's Indian ports and could better connect Europe and the Middle East in the longer term.
After a two-year tender process, Adani Ports and local chemicals and logistics group Gadot clinched the 4.1 billion shekel ($1.18 billion) winning bid for Haifa Port, Israel announced on Thursday.
Adani Ports will have a 70% stake and Gadot will hold the remaining 30%, the Indian company said.
The country hopes the privatisation of the previously government-owned port will lower import prices and help shorten notoriously long wait times at Israeli harbors.
