Adani Port and Special Economic Zone Limited (APSEZ), a company of Indian industrialist Gautam Adani, first bought Israel’s most prominent government port. Then Ron Malka, Israel’s ambassador to India, was made the executive chairman of this port. APSEZ and Israel’s Gadot Group completed the acquisition of Haifa Port Company (HPC) in January 2023.
Former ambassador Malka has expressed happiness about being made the chairman of Haifa. He tweeted that he was feeling pleased and proud while assuming the post of Executive Chairman in the office of Haifa Port Company. I welcome this new responsibility from @AdaniOnline. Haifa Port will now benefit from the experience and expertise of Adani and Gadot in the port sector and will touch new heights. In 2018, Malka was made the ambassador of India from Israel. His business and finance background is solid. He holds a PhD degree in Economics with MBA.
Won the tender a year ago
A consortium of India’s Adani Port and Special Economic Zone Limited (APSEZ) and Israel’s Gadot Group won the tender in July 2022 for the privatization of Haifa Port. It is the second largest port in Israel and handles more than half of the cargo there. After winning the $1.18 billion tender, the Adani-Gadut consortium got the right to buy a 100 per cent stake.
Who has how much stake
APSEZ and the Gadot Group completed the port takeover from the Israeli government on January 10, 2023. Under the deal, APSEZ will hold 70 per cent, while Gadot Group will hold 30 per cent. The concession period of this port will be till the year 2054.
Why is Haifa Port special?
Haifa Port, located in northern Israel, is one of the two largest ports in the country. This port handles about half of the country’s container cargo. Apart from this, it is also a significant port for stopping passenger traffic and cruise ships. Currently, two container terminals and two multi-cargo terminals have been built at this port. The total length of Haifa Port is about 2,900 meters. In 2021, 14.6 lakh containers and 25.6 lakh tonnes of bulk cargo were handled at this port.
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