DP World from Dubai will collaborate with Israel Shipyards


Foto DP World

Dubai-based logistics and maritime services provider DP World (Dubai Ports World) has signed a partnership agreement with Israel Shipyards Ltd, owned by Shlomi Fogel, Sami Katsav, the Shmeltzer family and the Gold Bond Group. The intention is that they will jointly make a bid for the old port of Haifa to be privatized.

The agreement was signed a few days ago during a visit by Fogel to Dubai. Industry sources are according to Globes believes that the two companies will jointly bid in the tender for the privatization of the port of Haifa. This will be the first time that a United Arab Emirates (UAE) company is participating in an official government contract in Israel.

Dubai Ports World was founded in 2005 under the leadership of Chairman and CEO Sultan Ahmed Bin Sulayem and is now one of the largest maritime logistics companies in the world. The source of its business strength is the port of Jebel Ali in western Dubai, one of the largest cargo ports in the Middle East and also a free trade zone.

DP World handles 70 million containers every year and loads and unloads hundreds of thousands of vehicles. In addition to Dubai, it operates 82 seaport terminals in 40 countries. In 2019, its sales were $ 7.68 billion and it posted net profit of $ 1.34 billion. In the first half of 2020, sales increased 18% to $ 4.07 billion, driven by recent acquisitions. DP World has interests in many infrastructure and maritime service providers around the world.

Fogel, who also owns Ampa Capital, of which he is chairman, and has other investments, has extensive connections in the Arab world, and is one of the Israeli businessmen currently making rapid progress with cooperation agreements with the UAE. He recently said he plans to establish two sea routes from the UAE to Eilat. A few days ago, Transport Minister Miri Regev said at an official event that there were already two UAE companies that had expressed an interest in buying the old port of Haifa from the state.

Israel Shipyards recently raised 340 million Shekels in exchange for 20% of its shares. It has three main activities: shipbuilding; port activities; and cement.

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