New Delhi: Asked if the current scandal facing the Adani Group would affect the company’s takeover of Israel’s Haifa Port, Israel Ambassador to India Naor Gilon said Wednesday that he was confident the project would be successful and confirmed that the Indian company was looking for more projects in the country.
During a media briefing Wednesday, Gilon told reporters: “I believe it [Haifa Port] will be working very well and I don’t see any other reason (for it) not to.” He added: “The Adani Group are looking for more projects in Israel and I hope they succeed in getting them,” he added.
The Adani Group, led by billionaire Gautam Adani, acquired the strategic Israeli port for $1.2 billion last month after outbidding Chinese and Turkish companies.
Meanwhile, the conglomerate has been tackling a crisis following a report by American short-seller firm Hindenburg Research which accused the Group of financial impropriety and stock manipulation. The report examined offshore entities of the Indian company and raised several questions about its operations.
The Adani Group lost nearly $100 billion in value following the controversy but shares of the company have recovered nearly 75 per cent in recent days from the previous lows.
The Haifa Port is reportedly expected to be Adani Ports & SEZ’s (APSEZ) biggest revenue generator outside India. It is the largest of Israel’s three major international seaports located in the northern Israeli city of Haifa.
‘Sign of big trust’
The Israel ambassador also said that it was “a sign of major trust” that a strategic asset, such as the Haifa Port, should be given to an Indian company.
“Haifa port is a strategic asset, and the fact that we are giving it to an Indian company… (it) is a symbolic sign of big trust in depositing your strategic asset in the hands of an Indian company,” he said.
He added that the Adani Group’s “bread and butter” as well as its core business, was ports.
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