On Tuesday, the Adani Group acquired the strategic Israeli port of Haifa for USD 1.2 billion and vowed to transform the skyline of this Mediterranean city as part of its decision to invest more in the Jewish nation, including opening an artificial intelligence lab in Tel Aviv.
Adani Group chairman Gautam Adani, whose business empire was rocked by allegations of fraud by US short seller Hindenburg Research, appeared alongside Israeli Prime Minister Benjamin Netanyahu for signing of the deal to takeover Haifa Port, and spoke of investment opportunities, PTI reported.
Netanyahu described the Haifa port deal with the Adani Group as an “enormous milestone”, saying it will significantly improve connectivity between the two countries in many ways.
The Port of Haifa is the second largest port in Israel in terms of shipping containers and the biggest in shipping tourist cruise ships.
“I think this is an enormous milestone…Over 100 years ago, and during World World I, it was the brave Indian soldiers who helped liberate the city of Haifa. And today, it’s very robust Indian investors who are helping to liberate the port of Haifa,” Netanyahu said, as per PTI.
The Prime Minister said that he discussed with his “good friend” Indian counterpart Narendra Modi this vision of “having connectivity between our countries in many ways, transportation lines and air routes and sea routes…and it’s happening today.”
He said what is happening today has historic importance because what “we see there is a tremendous boost for peace.” Netanyahu said the region will become an entry point and an exit point to a vast number of goods that reach the Mediterranean and Europe directly without having to go around the Arabian peninsula without having to go through three choke points.
“This is an unequivocal expression of confidence in the Israeli economy,” he said, adding that privatisation of the ports and the entry of new investors strengthen Israel’s economic strength, lowers the cost of living and creates new opportunities for import and export and strengthens ties between India and Israel.
On his part, Adani said his group will also develop real estate at the port to transform the Haifa skyline.
The 60-year-old Indian tycoon did not make any mention of the Hindenburg row that has already wiped out over USD 70 billion in value from his group stocks.
