A consortium of Adani Ports and Special Economic Zone Ltd (APSEZ) and Israel’s 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 Ltd. The concession period of the Port of Haifa remains up to 2054.
Haifa Port Company Ltd (HPC), for which APSEZ and Gadot made their successful bid, operates the Port of Haifa, one of the two biggest commercial ports in Israel. 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 consortium of APSEZ and Gadot Group was formed with their respective shares of 70% and 30%. The consortium’s 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 Ltd will expand its footprint into the European port sector, which includes the lucrative Mediterranean region.
The Port of Haifa is located towards the north of Israel. It is close to the city of Haifa, the third largest city in Israel. It is also one of the major industrial areas of Israel. Haifa Port is operated by the Haifa Port Company Ltd, which also has real estate available for the development of office spaces, hotels, tourism and other recreational activities.
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.