DP World withdraws from Haifa port privatisation bid

Dubai-headquartered port operator DP World has retired from the race to take over Israel’s Haifa port, one of the largest infrastructure tenders currently taking place in the country.

The state-owned firm entered the tender in partnership with Shlomi Fogel-controlled Israel Shipyards Company, which is now looking to move forward alone or with another partner.

The withdrawal from the tender was confirmed by Israel’s Government Companies Authority after a reported hearing last month held by the Ministry of Finance in which it was decided not to approve the initial joint offer for security reasons.

Not to enter the tender for economic reasons DP World said

DP World said in a statement that is had decided not to enter the tender for economic reasons. “We are constantly exploring opportunities and evaluating their feasibility in the process. Although we have decided not to participate further in the privatisation of the Port of Haifa, we are still interested in investing in Israel as a key trade hub, and we will examine additional investment opportunities.”

The joint proposal was unveiled last year, after a deal mediated by former US president Donald Trump to establish diplomatic relations between Israel and the UAE