Israeli PM to share stage with Gautam Adani
Prime Minister Benjamin Netanyahu will also attend a ceremony on Tuesday to celebrate the successful entry of Adani Group into Israel. The event follows the group’s takeover of the Haifa port. A consortium of Adani Ports and Special Economic Zone (APSEZ) and Israel’s Gadot Group had bid for the privatization of the port in July last year. The consortium won the USD 1.18 billion tender for the privatization of the Haifa port.
The procurement process was completed on January 11 this year. After which the upgradation work at the port is going on in full swing. The Indian partner holds 70 per cent stake in the consortium while its local partner holds 30 per cent.Adani Group founder and chairman Gautam Adani will also attend the ceremony at the Haifa Port Temporary Cruise Terminal in Israel’s northern coastal city on Tuesday. Prime Minister Netanyahu will also be present at the ceremony.
Israel Gadot Group is controlled by Ten Foundation and LBH Group and was established 63 years ago. The group has extensive business in Israel, Germany, the Netherlands and Belgium and is a leader in the distribution and logistics of chemicals, oils and seeds for industry sectors and personal consumption. Haifa Port is Israel’s second largest in terms of shipping containers The port is and it is the largest in terms of shipping tourist cruise ships. A company spokesperson said that the spectrum of handling general cargo and cars is expected to grow significantly in the next few years and this will help the company’s focus and investment.
