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Indian-led consortium completes purchase of Haifa Port

The privatization of the port in northern Israel has been in the works since 2018.
This picture shows countainers and cranes on a dock at Haifa Port, Israel, June 24, 2021.

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. 

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