Dubai port operator DP World advances in Israel port bid as Turkish firm faces check.
Dubai , Dubai
29 January 2021, 12:00 AM
06 February 2021, 12:00 AM
Israeli officials have cleared Dubai port operator DP World to move forward in the privatization of Israel’s largest seaport but kept Turkey’s Yildirim Holding AS under further scrutiny.
DP World got security clearance to move forward in the bidding process for the port in the northern city of Haifa, according to two people familiar with the matter. Local representatives for Yildirim lodged a complaint about unfair treatment in the process, according to a letter it sent to Israeli officials seen by Bloomberg.
Together with Israel Shipyards Industries, Dubai’s DP World submitted 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.
The Government Companies Authority, which is running the privatization, said Israel is making necessary regulatory checks as part of confirming investors' participation in the Port of Haifa privatization and that it expects the sale to be completed in a few months.