New port in Haifa operational
Shanghai International Port Group (SIPG)'s commitment, made in 2015, for the concession to build a new port in Haifa has brought fruit. Early in September this year, the NIS 5.5 billion (USD 1.7 billion) investment came to a close with the opening of the Bay Port at Haifa, operated by SIPG. The new port can handle ultra large container vessels with a capacity of 18,000 teu or more.
About 99% of all goods move in and out of Israel via maritime channels. Another new port on the Mediterranean coast is due to open in Ashdod by the end of the year, to be operated Swiss-based Terminal Investment Limited. (cd)