Former Israel Ambassador To India Ron Malka Appointed Executive Chairman of Adani's Haifa Port

Former Israeli Ambassador to India Ron Malka has been appointed Executive Chairman of the Haifa Port, which is owned by Adani  Group and its Israeli partner Gadot Group.

The Adani Ports and Special Economic Zone (APSEZ) consortium acquired the port in July 2022 and finalized the acquisition last year.

Malka stated in a tweet, "I'm honored and privileged to take office today as Executive Chairman of the Haifa Port Company, on behalf of @AdaniOnline. The experience and expertise of Adani and Gadot, combined with the dedication of the port workers, will take Haifa Port to new heights of prosperity."

Adani owns 70% of the company, with Gadot owning the remaining 30%.

Adani and Gadot were successful in their attempt to privatize the key trade hub on Israel's Mediterranean coast for $1.18 billion. The tender process lasted two years before the consortium was given the contract.

The new group will run the port until 2054, according to Haifa Port, and the winning offer was "higher than expected."

In January, Israel Prime Minister Benjamin Netanyahu and Gautam Adani witnessed the port's ceremonial handover. During the inauguration event, Adani stated that the acquisition of the Haifa Port was the result of 6 years of hard work.

"We have initiated several dozen technology relationships wherein we have offered the entire Adani Portfolio of companies to be a giant sandbox for us to learn together," he added.

Israel's Prime Minister Binyamin Netanyahu termed the agreement an "enormous milestone," adding that it will considerably increase the connection between India and Israel.

Malka's hiring indicates that Adani Ports has no intentions to scale down its investment in Haifa port, despite the group's stock falling. After Hindenburg Research's allegations of fraud, the Adani Group paid $1.2 billion for the key Israeli port of Haifa.

The Hindenburg controversy, which has already wiped off more than $70 billion in value from his group's stocks, has been shaken by charges of fraud by American short-seller Hindenburg Research.