Adani Ports and Special Economic Zones (APSEZ) on Tuesday said the consortium of APSEZ and Israel’s Gadot Group (Gadot) has completed the acquisition of Haifa Port Company Ltd (HPC) from the government of Israel.

APSEZ in a statement said that the consortium had won the bid for HPC on July 22, 2022. “On July 15, 2022, we announced that the consortium of Adani Ports and Gadot Group (with 70:30 shareholding) had won the competitive bid for the privatisation of HPC at an offer price of NIS 4.1 Billion, equivalent to $1.18 Billion.”

“The concession period of the port is up to 2054,” it said. Adani Ports and Special Economic Zone, the flagship transportation arm of the diversified Adani group, is India’s largest private ports and logistics company.