The Israel Defense website announced the government’s decision to privatize the port of Haifa in favor of Sde Gadot Masovim Khimikalim Group and the Indian company ADANI PORTS for 4.1 billion shekels. The Israeli government hopes that the privatization of the port will improve competition in Israeli seaports.

The process of privatization of the Port of Haifa began in 2020 with the approval of the Ministerial Privatization Committee, and before that, in 2013, the privatization of the Port of Eilat was carried out. The deal requires the new owners to acquire 100 percent of the company’s shares, which are distributed as follows, the Indian company ADANI PORTS acquires 70 percent of the shares, the Israeli Gadot receives 30 percent.

The Indian company is the largest in India in the field of seaports and is expanding. From now on, the port of Haifa, owned by an Indian company, will compete with another new port in Haifa, operated by a Chinese port company from Shanghai.