Adani acquires Haifa port for $1.2 billion

Haifa (Israel): The Adani Group on Tuesday acquired the strategic Israeli port of Haifa for $1.2 billion and vowed to transform the skyline of this Mediterranean city as part of its decision to invest more in the Jewish nation, including opening an artificial intelligence lab in Tel Aviv.

Adani Group chairman Gautam Adani, whose business empire was rocked by allegations of fraud by US short seller Hindenburg Research, appeared alongside Israeli Prime Minister Benjamin Netanyahu for signing of the deal to takeover Haifa Port, and spoke of investment opportunities.

Prime Minister Netanyahu described the Haifa port deal with the Adani Group as an "enormous milestone", saying it will significantly improve connectivity between the two countries in many ways.