Israel-Hamas War: Adani's Haifa port staff on high safety alert

Israel-Hamas war: Amid the ongoing war between Israel and Hamas, Adani Ports said that it is 'fully alert’ regarding the situation in Haifa port and taking measures to ensure safety of employees posted there.

"At a time like this, our thoughts continue to be with the people of Israel. We are closely monitoring the action on ground which is concentrated in South Israel, whereas Haifa port is situated in the North. We have taken measures to ensure safety of our employees and all of them are safe. We remain fully alert and prepared with a business continuity plan that will enable us to respond effectively to any eventuality", Adani Port said in a media statement.

Haifa's contribution

The statement said that Adani group is prepared with a business continuity plan. The statement further added that Haifa's contribution to Adani Ports' numbers is "relatively small" at 3% of the total cargo volume and that the group is confident of business performance.

"The overall contribution of Haifa in APSEZ’s numbers is relatively small at 3% of the total cargo volume. For the current financial year (Apr 23-Mar 24), we have guided for Haifa Cargo volumes range of 10-12 MMT and APSEZ’s total cargo volume guidance of 370-390 MMT. In the initial six months (Apr-Sep 23), APSEZ’s total cargo volume was 203 MMT, of which the Haifa share is 6 MMT. We stay confident of APSEZ's business performance," said the Adani firm

The shares of Adani Ports and Special Economic Zone Ltd fell 5.09% on Monday's close.

Haifa Port

Adani operates the Haifa Port in northern Israel along with a local company. The group purchased the port for $1.03 billion in January. Haifa is one of the main seaports in Israel, where about 99% of all goods move in and out of the country by sea. This port is also one of the significant trading hub on the Mediterranean.