Skip to main content

Indian company among buyers of Israel's Haifa Port

India is pursuing better economic relations with the UAE and Iran as well.
EMMANUEL DUNAND/AFP via Getty Images

The Israeli government has sold its port in Haifa. 

A consortium led by the Israeli company Gadot Chemical Terminals and India’s Adani Ports and Special Economic Zone Ltd. won the tender to buy Haifa Ports Ltd. for around $1.18 billion, multiple outlets reported yesterday. 

Israel decided to privatize the port in an effort to lower import prices and shorten long wait times, according to Reuters. The $1.18 billion offer is higher than the approximately $870 million Israel expected to receive, the Israeli business news outlet Globes reported. 

Why it matters: The purchase comes as Israel is seeking better relations with India. Israeli Defense Minister Benny Gantz visited India in June to push for security cooperation and trade. US President Joe Biden also held investment talks with India, Israel and the United Arab Emirates in Jerusalem yesterday during his trip to the city. 

India is seeking better economic relations with a few countries in the Middle East. In April, India and the UAE signed a trade agreement. The South Asian country also hosted Iranian Foreign Minister Hossein Amir-Abdollahian in June for an official visit. India’s recent decision to allow import and export payments in rupees could also help boost trade with Iran

Know more: A Chinese company also opened a new port terminal in Haifa last year despite opposition from the United States. 

Join hundreds of Middle East professionals with Al-Monitor PRO.

Business and policy professionals use PRO to monitor the regional economy and improve their reports, memos and presentations. Try it for free and cancel anytime.

Free

The Middle East's Best Newsletters

Join over 50,000 readers who access our journalists dedicated newsletters, covering the top political, security, business and tech issues across the region each week.
Delivered straight to your inbox.

Free

What's included:
Our Expertise

Free newsletters available:

  • The Takeaway & Week in Review
  • Middle East Minute (AM)
  • Daily Briefing (PM)
  • Business & Tech Briefing
  • Security Briefing
  • Gulf Briefing
  • Israel Briefing
  • Palestine Briefing
  • Turkey Briefing
  • Iraq Briefing
Expert

Premium Membership

Join the Middle East's most notable experts for premium memos, trend reports, live video Q&A, and intimate in-person events, each detailing exclusive insights on business and geopolitical trends shaping the region.

$25.00 / month
billed annually

Become Member Start with 1-week free trial

We also offer team plans. Please send an email to pro.support@al-monitor.com and we'll onboard your team.

What's included:
Our Expertise AI-driven

Memos - premium analytical writing: actionable insights on markets and geopolitics.

Live Video Q&A - Hear from our top journalists and regional experts.

Special Events - Intimate in-person events with business & political VIPs.

Trend Reports - Deep dive analysis on market updates.

All premium Industry Newsletters - Monitor the Middle East's most important industries. Prioritize your target industries for weekly review:

  • Capital Markets & Private Equity
  • Venture Capital & Startups
  • Green Energy
  • Supply Chain
  • Sustainable Development
  • Leading Edge Technology
  • Oil & Gas
  • Real Estate & Construction
  • Banking

Already a Member? Sign in

Start your PRO membership today.

Join the Middle East's top business and policy professionals to access exclusive PRO insights today.

Join Al-Monitor PRO Start with 1-week free trial