The Adani Group's entry into Israel through its strategic acquisition of the Haifa port will turn this northern coastal Israeli city into a strong and exciting Mediterranean hub, the city's mayor said on Tuesday.
A consortium of Adani Ports and Special Economic Zone (APSEZ) and Israel's Gadot Group won the tender in July last year to privatise the Port of Haifa for a staggering USD 1.18 billion.
It completed the process of purchase on January 11 this year, following which upgradation work has been going on in full swing at the port. The Indian partner in the consortium holds 70 per cent of the stake while its Israeli partner Gadot has 30 per cent.