DP World of Dubai is partnering with Israel to investigate bidding for one of Israel’s two main ports and to open a direct shipping line between the two Middle East states, it said on Wednesday.
The announcement was made a day after Israel and the United Arab Emirates signed a landmark agreement to normalize relations, and marked a major development in trade and economic cooperation.
The Dubai state-owned DP World, which operates ports from Hong Kong to Buenos Aires, signed a series of agreements with Israel’s DoverTower in the privatization of Haifa Port on the Mediterranean Sea in two of Israel’s main maritime cities Contains a joint bid from.
Sultan Ahmed bin Sulayem, chairman of DP World, said, “Israel has two ports, the port of Ashdod and the port of Haifa. They are strong ports in excellent places. If there is an opportunity, there is something to prevent us from being there Neither is there. ” Told Arabia TV.
DoverTower is owned by Israeli businessman Shlomi Fogel, a shareholder in the Israeli shipyard and a partner in Elliott Port.
Fogel said that as a result of the deal, DP World will collaborate with Israel Shipyard on the joint venture that will participate in the tender for Haifa privatization.
DP World and DoverTower said they would also investigate the opening of a direct shipping line between the Red Sea port of Eilat and Jebel Ali of Dubai, the Middle East’s largest transshipment hub.
“Our work to create trade routes between the United Arab Emirates, Israel and beyond will help our customers to do business in the region more easily and efficiently,” said bin Sulayem.
Israel is selling its state-owned ports and building new private docks in an effort to encourage competition and reduce costs.
The Haifa Port will need to be upgraded to compete with a modern one being built in the region by China’s Shanghai International Port Group.
Israel Shipyards and Dubai’s DryDocs World will investigate participation in production and marketing products in Dubai.
Reuters news agency