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Israel to sell 100% stake in Haifa seaport to boost competition

The privatization comes as the government has come under fire for rising consumer prices. Bids are due by April 24.

by  Reuters and ILH Staff
Published on  02-25-2022 09:38
Last modified: 02-25-2022 09:38
Palestinian TV greets released terrorist with 'pride, glory and elation'Michel Dot Com

A container being loaded at the Haifa Port, Oct. 10, 2020 | Screenshot: Michel Dot Com

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Israel is planning to sell its 100% stake in the Haifa seaport to a strategic buyer, the Finance Ministry said on Thursday, as it looks to boost ports competition and lower prices.

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Bids for the Haifa port, Israel's largest, are due by April 24.

Israel has three ports – Haifa, Israel's third-largest city situated on its northern Mediterranean coast, Ashdod in the center, and the Red Sea resort city of Eilat.

The privatization comes as the government has come under fire for rising consumer prices.

The ministry said a sale of the Haifa port would lower costs, turn seaports more efficient and improve service.

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