Adani paid the whole $1.2 billion to purchase the Haifa port
Naor Gilon, Israel’s ambassador to India, said on Wednesday that the troubled Adani Company has fully paid for the purchase of Haifa Port.
The Israeli envoy stressed the significance of Adani’s investment as “strategic” on the occasion of the conclusion of 30 years of diplomatic relations between Israel and India and expressed hope for additional investments by the firm in other sectors of Israel.
There are two ports that we have there. Haifa is a valuable strategic asset. From our perspective, the fact that we are providing it to an Indian firm signifies a strong level of confidence in entrusting Indian enterprises with your key assets.
The envoy’s remarks coincide with a stock market sell-off for companies owned by the Adani Group caused by scathing charges made by a US short seller.
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Ports are the Adani Group’s main source of revenue. They have the ability to make Haifa port what it needs to be and to exploit it to increase trade between India and Israel.
The Adani Group purchased the important Israeli port of Haifa for $1.2 billion last month and promised to change the appearance of this Mediterranean city as part of its intention to invest further in the Jewish state, including by establishing an AI research facility in Tel Aviv.
While Israeli Prime Minister Benjamin Netanyahu signed the agreement to acquire Haifa Port, Adani Group Chairman Gautam Adani, whose corporate empire was shaken by claims of fraud by US short seller Hindenburg Research, spoke about investment potential.
The agreement between the Adani Group and the Haifa port, according to Prime Minister Netanyahu, is a “enormous milestone” that will greatly enhance connectivity between the two nations in many ways.
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The Port of Haifa is the main port for shipping tourist cruise ships and the second largest port for shipping containers in Israel.
“The Haifa port was fully paid for by the Adani Company, and funding is available for development. Adani Group’s primary line of business is port infrastructure, and they are competent. It is a strategic asset that will be beneficial to both Israel and India.
He continued, “I hope Adani Group is successful in obtaining more projects in Israel. We want to be near our buddies. We feel really at ease with India.
When asked about Rahul Gandhi’s claims that Adani received defence contracts following Prime Minister Modi’s visit to Israel, the envoy responded, “We have joint ventures with 80 Indian firms, including Tata, Bell, and Kalyani… I don’t see the problem with talking about one firm here. Joint Ventures are between private companies, they are not pushed by Israel.”
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Rahul Gandhi, a congressman, claimed in front of the legislature that Adani never produced drones, but HAL and other Indian businesses do. Even yet, Prime Modi travels to Israel, and Adani is awarded the deal.
Adani Group has forged a number of significant alliances over the past six years with organisations like Elbit Systems, Israel Military Systems, and the Israel Innovation Authority.
In July of last year, Adani Ports & Special Economic Zone Ltd. won a government of Israel contest to purchase the Haifa Port, a significant commercial hub on Israel’s Mediterranean coast, for around $1.2 billion in cooperation with local chemicals and logistics business Gadot.
“The purchase of the Haifa port also includes a sizable quantity of real estate.” And I guarantee you that we will change the skyline in the years to come,” Adani remarked.
According to Adani, the connection between India and Israel began on September 23, 1918, when soldiers from the Indian cities of Mysore, Hyderabad, and Jodhpur fought in Israel for Haifa’s freedom.