Israel’s Port of Haifa up for grabs
Bidders stand in line to snap up strategic port as Israel privatises.
Several investment groups are standing ready to bid on the Port of Haifa as Israel begins to privatise its state-owned ports. Formal bids are expected towards October, with offers anticipated in excess of $600 million.
Warming relations with neighbouring Arab countries mean that the port is well-placed to become a regional hub, but a new container terminal run by China’s Shanghai International Port Group is opening just up the coast and Haifa will need to upgrade in order to compete.
“We plan to make Haifa the gateway to the Middle East,” said Shlomi Fogel, co-owner of Israel Shipyards Industries, which is jointly bidding with Dubai’s DP World for the port. “We have all the ingredients to make it happen.”
Other interested parties are Britain’s DAO Shipping, Libra, India’s Adani Ports, Gadot Group, and Shafir Engineering.
