Together with Israel Shipyards Industries, Dubai’s DP World is submitting a bid to buy Haifa Port through the Israeli government’s privatisation programme. The two companies are reported to have signed an exclusive cooperation agreement to operate and develop the Mediterranean facility.
The joint bid to Israel’s privatisation agency follows Israel and the UAE agreeing to normalise ties in September. DP World has since signed a number of agreements with Israel’s DoverTower group, which is co-owned by Israeli businessman Shlomi Fogel, a shareholder in Israel Shipyards.
Israel is selling its state-owned ports in a bid to encourage competition and bring down costs. Additional investment is needed to allow Haifa to compete effectively with other regional ports and terminals.