Will keep investing in Israel: Gautam Adani after Haifa port takeover

Adani did not speak about his group's recent share sale or a scathing short-seller's report that has pummelled the Indian billionaire's stocks

Gautam Adani, Adani Group
Gautam Adani | Photo: Bloomberg
Reuters HAIFA, Israel
1 min read Last Updated : Jan 31 2023 | 6:57 PM IST

HAIFA, Israel (Reuters) - Indian magnate Gautam Adani said on Tuesday he would keep investing in Israel after his group took over one of the country's main ports.

He spoke at a ceremony in Haifa welcoming Adani Ports and local chemicals and logistics group Gadot - the partners who purchased the port for 4 billion shekels ($1.15 billion).

Adani did not speak about his group's recent share sale or a scathing short-seller's report that has pummelled the Indian billionaire's stocks.

"We will transform the entire port landscape," Adani said. "Our intention is to make the right set of investments that will not just make the Adani-Gadot partnership proud, but will make the whole of Israel proud."

Israeli Prime Minister Benjamin Netanyahu also spoke at the ceremony, adding that Adani had told him he planned to increase his investment in Israel "in a big way".

($1 = 3.4720 shekels)

 

(Reporting by Rami Amichay, Dan Williams and Ari Rabinovitch; Editing by Mark Potter)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

Topics :Gautam Adaniisrael

First Published: Jan 31 2023 | 6:57 PM IST

Next Story