India-based Adani Ports and Special Economic Zone (APSEZ) and Gadot Chemical Terminals have formed a new joint venture (JV) company in Israel.

The new JV, dubbed Mediterranean International Ports, has been established for the acquisition of Haifa Port Company (HPC).

Currently, HPC is the operator of Haifa Port in Israel.

In July, APSEZ and Gadot won a bid to take over the Port of Haifa with a concession period of up to 2054.

Following an offer of around $1.18bn, the partnership secured the rights to acquire 100% equity in HPC.

Adani will own a 70% stake in the port, while the remaining 30% interest will be held by Gadot.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Located in the north of Israel, Haifa Port is about 90km away from the city of Tel Aviv.

The port currently has two container terminals, as well as two multi-cargo terminals.

Haifa Port has a quay length of more than 2,900m and features maximum draft ranges from 11m to 16.5m.

Furthermore, the port includes provision for roll-on roll-off (RoRo) vessels, a cruise terminal with several passenger facilities, and a waterfront length of 2km for development.

Last month, APSEZ received approvals from NCLT Ahmedabad and NCLT Hyderabad to acquire the remaining stake in Gangavaram Port Limited (GPL) in India for $751m (Rs62bn).