Haifa, Israel (PortSEurope) August 10, 2021 – A joint venture between Dubai’s DP World and Israel Shipyards Industries looks like the front runners in the tender for the privatisation of Israeli port of Haifa in the Mediterranean. This became possible after a formal agreement was signed last year between Israel and the United Arab Emirates (UAE), as well as between Israel and Bahrain, formalising diplomatic
relations between Israel and the two Gulf Arab nations. DP World may have wider ambitions for its business in Israel, and is possibly looking at investment opportunities also in the nearby port of Ashdod, and in Eilat in the Gulf of Aqaba, on the Red Sea. Binding bids for Haifa are expected in Q4 this year in a deal that might generate some $600 million. Three other groups are looking to acquire Haifa which is set to compete with a nearby new container terminal owned by the Chinese giant Shanghai International Port Group (SIPG). This container terminal will start operations before the end of 2021. Jerusalem wants to choose a winner in the tender by the end of the year and transfer the ownership of the port in early 2022. Improved ties with Arab countries in the region has created new business opportunities, which could turn Haifa into a regional trade hub. But in order for this to happen Haifa needs serious upgrades of its facilities and massive investments. Otherwise, the SIPG terminal will take over the cargo. Israeli infrastructure fund Generation Capital is expected to bid jointly with Britain’s DAO Shipping. This consortium might also include London-headquartered shipping company Lomar. Israel’s Gadot Group is to bid together with India’s Adani Ports. Israel’s Shafir Engineering is expected to participate alone. Copyright (C) PortSEurope. All Rights Reserved. 2021.
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