Valued at approximately $600 million, the port of Haifa is currently an acquisition target of four investment groups, each of which is expected to launch a bid for the port by October of this year. In an effort to promote competition and reduce costs, Israel has decided to sell its state-owned ports and shift focus to the construction of private docks.
With the state entering into several peace agreements and nurturing relationships with neighboring countries, the port of Haifa is becoming a major trading post in the region.
Shlomi Fogel, co-owner of Israel Shipyards Industries, concurred: “We plan to make Haifa the gateway to the Middle East. We have all the ingredients to make it happen.”
According to a representative of the Government Companies Authority (GCA), a winner should be chosen at the end of the year, with the transfer of ownership being completed at the start of 2022. The current contenders for the acquisition hail from Israel, India, Europe, and the United Nations.
In an effort to combat investor concerns over the Chinese-run terminal just north of the port, Israel has decided to sell the Haifa port along with land to develop and a war chest valued at 1.9 billion shekels ($590 million).
