Indian-led consortium completes purchase of Haifa Port | CPT PPP Coverage
Cryptopolytech (CPT) Public Press Pass (PPP)
News of the Day COVERAGE
200000048 – World Newser
•| #World |•| #Online |•| #Media |•| #Outlet |
View more Headlines & Breaking News here, as covered by cryptopolytech.com
Indian-led consortium completes purchase of Haifa Port appeared on www.al-monitor.com by Al-Monitor: Independent, trusted coverage of the Middle East.
A consortium led by India’s Adani Group completed the purchase of Israel’s Haifa Port for 4 billion Israeli shekels ($1.15 billion), an Israeli Finance Ministry spokesperson told Al-Monitor Tuesday. The news was first reported by Reuters.
Why it matters: The sale is the culmination of a yearslong process with the port. The Israeli government decided in 2018 to privatize Haifa Port. This was part of a wider privatization agenda motivated by a desire to obtain more revenue as well as foreign expertise, according to a 2020 report from the Economist Intelligence Unit.
In late 2021, Dubai’s DP World pulled out of the process to buy the port. In July 2022, Adani and Israel’s Gadot Chemical Terminals won the bid to buy Haifa Ports Ltd.
The following September, Adani asked for an extension to complete the purchase, Reuters reported at the time. In November, Adani and Gadot formed a joint venture, according to The Times of India.
The administration of former Prime Minister Yair Lapid gave final approval for the Haifa Port purchase in December before leaving office.
Know more: The Chinese state-owned Shanghai International Port Group opened another port in Haifa in 2021. The US government adamantly opposed the sale of the port by ally Israel to China and the move led to tensions between Prime Minister Benjamin Netanyahu and the Trump administration at the time.
FEATURED ‘News of the Day’, as reported by public domain newswires.
View ALL Headlines & Breaking News here.
Source Information (if available)
This article originally appeared on www.al-monitor.com by Al-Monitor: Independent, trusted coverage of the Middle East – sharing via newswires in the public domain, repeatedly. News articles have become eerily similar to manufacturer descriptions.
We will happily entertain any content removal requests, simply reach out to us. In the interim, please perform due diligence and place any content you deem “privileged” behind a subscription and/or paywall.
CPT (CryptoPolyTech) PPP (Public Press Pass) Coverage features stories and headlines you may not otherwise see due to the manipulation of mass media.
First to share? If share image does not populate, please close the share box & re-open or reload page to load the image, Thanks!