DP World will form a joint venture with a shipbuilding company in an effort to secure a tender for a major Israeli port.
The move towards Port of Haifa comes as group chairman and CEO of DP World, HE Sultan Ahmed bin Sulayem, signed MoUs with DoverTower, a company owned by Shlomi Fogel, the co-owner of Israel Shipyards and Port of Eilat.
Shlomi Fogel, Chairman and owner of DoverTower Group, shareholder of Israel Shipyard port in Haifa and partner of Eilat Port, said he was “happy to announce that DP World and Israel Shipyards will collaborate to establish a joint venture that will participate in the tender for privatisation of the Port of Haifa”.
The MoUs create a framework for the companies to work together in assessing opportunities to develop infrastructure for trade between Israel and the UAE, as well as within Israel and the region.
Under the MoUs, DP World will also assess the development of Israeli ports and free zones and the potential establishment of a direct shipping route between Eilat and Jebel Ali.
HE Sultan Ahmed bin Sulayem, said: “DP World's mission is to enable global trade – 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."
