PLANS by the Israeli government to privatise 11 state-owned companies worth US$20 billion, include the ports of Haifa and Ashdod.
Israeli media reports suggest that the ports will be sold in full, either through a direct sale, an initial public offering or a combination of both, reports Lloyd's List. The plan has met with the approval of the economic-social cabinet.
The decision to privatise the two Mediterranean ports has come as no surprise, as the move has been on the cards over the past decade with a target date of 2020.
As well as privatising the two ports, Israel Ports Company (IPC) last year announced tenders for the operation of new container terminals at the two ports.
The new terminals are to be built on reclaimed land and will feature facilities capable of handling ships with a capacity of up to 18,000 TEU.
At full build-out, the terminals will have two quays with a total length of 1,600 metres and maximum waterside depth of 17.3 metres.
In July IPC announced that Terminal Investment Limited, Eurogate, ICTSI and Shanghai International Port Group had been invited to submit proposals to operate the terminals for a period of 25 years.
Source : HKSG, 10.10.14.