By: ICN Bureau
Last updated : January 11, 2023 9:32 am
Adani Ports and Gadot Group won the competitive bid for the privatization of HPC at an offer price of US $1.18 bn
The consortium of APSEZ and Gadot Group has completed the acquisition of Haifa Port Company (HPC) from the government of Israel.
The consortium of India’s Adani Ports and Special Economic Zone Ltd (APSEZ) and Israel’s Gadot Group (Gadot) has completed the acquisition of HPC from the government of Israel. On 15th July ’22, the government announced that the consortium of Adani Ports and Gadot Group (with 70:30 shareholding) had won the competitive bid for the privatization of HPC at an offer price of NIS 4.1 billion, equivalent to US $1.18 billion. The concession period of the port is up to 2054.
Adani Ports and Special Economic Zone Ltd (APSEZ), a part of the globally diversified Adani Group has evolved from a port company to an Integrated Transport Utility providing an end-to-end solution from its port gate to customer gate. It is the largest port developer and operator in India with six strategically located ports and terminals on the west coast (Mundra, Dahej, Tuna and Hazira in Gujarat, Mormugao in Goa, and Dighi in Maharashtra) and six ports and terminals on the East coast of India (Haldia in West Bengal, Dhamra in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, and Kattupalli and Ennore in Tamilnadu) representing 24% of the country's total port capacity, thus providing capabilities to handle vast amounts of cargo from both coastal areas and the hinterland. The company is also developing two transshipment ports at Vizhinjam, Kerala and Colombo, Sri Lanka.
Adfani's Ports to Logistics Platform comprising port facilities, integrated logistics capabilities including multimodal logistics parks, Grade A warehouses, and industrial economic zones, puts us in an advantageous position as India stands to benefit from an impending overhaul in global supply chains.
The company's vision is to be the largest ports and logistics platform in the world in the next decade. With a vision to turn carbon neutral by 2025, APSEZ was the first Indian port and third in the world to sign up for the Science-Based Targets Initiative (SBTi) committing to emission reduction targets to control global warming at 1.5°C above pre-industrial levels.