Middle East

Israel’s central bank urges construction of new port capacity

Cairo: Israel needs more ports, and they should be operated by private companies to increase competition and lower costs, the Bank of Israel said in a report published on Tuesday.

Israel will run out of port capacity as early as 2018, especially as transhipment volumes grow, the central bank noted.

The bank’s report chimes with Tel Aviv’s avowed goal of getting two private ports up and running to add competition to the nation’s state-run duopoly. The government’s bid to get private ports built has met severe opposition from local dockworkers who have gone on strike on a number of occasions.  [18/06/14]

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