The remarkable thawing of ties between some Middle Eastern nations and Israel has led to an unexpected port development with a Dubai terminal operator closing in on a deal to buy into the port of Haifa.
President Donald Trump welcomed leaders from the United Arab Emirates and Bahrain to the White House yesterday to meet with Israeli prime minister Benjamin Netanyahu as the countries renewed diplomatic relations and signed several bilateral business deals.
DP World, one of the world’s largest terminal operators, is now in discussions with Tel Aviv-based DoverTower to bid to take over operations at the previously government-owned Haifa port.
DoverTower is owned by Israeli businessman Shlomi Fogel, and is a shareholder in Israel Shipyards and a partner at Eilat port.
“Our work to build trade routes between the UAE, Israel and beyond will help our customers to do business in the region more easily and efficiently,” said DP World chairman Sultan Ahmed bin Sulayem today.
Israel has been carrying out a port privatisation scheme for a number of years.