Indian-led consortium completes purchase of Haifa Port
The privatization of the port in northern Israel has been in the works since 2018.
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.
