+
Adani Ports Clarifies Haifa Port Contribution to Revenue
PORTS & SHIPPING

Adani Ports Clarifies Haifa Port Contribution to Revenue

Adani Ports and Special Economic Zone Ltd of India published a clarification during a dip in stock prices, noting that Haifa's entire contribution to APSEZ's stats is only 3% of total cargo volume. 

“The overall contribution of Haifa in APASEZ’s numbers is relatively small at 3 per cent 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 APSEZs business performance,” the company spokesperson said. 


The statement also stated that the corporation is on high alert and has a business continuity strategy in place. 

Shares of billionaire Gautam Adani's APSEZ plummeted as much as 3.8% as investors were concerned about the possibility of escalation of a conflict in Israel, where the firm operates a major port. 

Adani manages the Haifa Port in northern Israel in collaboration with a local company, which it purchased for 4 billion shekels ($1.03 billion) in January. 

Haifa is a major seaport in Israel, where almost 99 percent of all commodities enter and exit the nation by sea. 

Investors are concerned after the Palestinian Islamist group Hamas unleashed the most devastating military attack on Israel in decades, killing hundreds of Israelis. 

Adani Ports shares are down 2.1 percent this year, compared to roughly 8% advances on the broader Nifty 50 index. 

Haifa, located north of the current battle zone, is an important commerce hub on the Mediterranean. 

Adani, the group's founder and chairman, stated in January that the company would continue to invest in Israel. Adani Ports completed the sale of its port in sanction-hit Myanmar earlier this year for $30 million, which was much less than the company's investment in the project. 

Adani Ports and Special Economic Zone Ltd of India published a clarification during a dip in stock prices, noting that Haifa's entire contribution to APSEZ's stats is only 3% of total cargo volume. “The overall contribution of Haifa in APASEZ’s numbers is relatively small at 3 per cent 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 APSEZs business performance,” the company spokesperson said. The statement also stated that the corporation is on high alert and has a business continuity strategy in place. Shares of billionaire Gautam Adani's APSEZ plummeted as much as 3.8% as investors were concerned about the possibility of escalation of a conflict in Israel, where the firm operates a major port. Adani manages the Haifa Port in northern Israel in collaboration with a local company, which it purchased for 4 billion shekels ($1.03 billion) in January. Haifa is a major seaport in Israel, where almost 99 percent of all commodities enter and exit the nation by sea. Investors are concerned after the Palestinian Islamist group Hamas unleashed the most devastating military attack on Israel in decades, killing hundreds of Israelis. Adani Ports shares are down 2.1 percent this year, compared to roughly 8% advances on the broader Nifty 50 index. Haifa, located north of the current battle zone, is an important commerce hub on the Mediterranean. Adani, the group's founder and chairman, stated in January that the company would continue to invest in Israel. Adani Ports completed the sale of its port in sanction-hit Myanmar earlier this year for $30 million, which was much less than the company's investment in the project. 

Next Story
Infrastructure Urban

Jupiter Opens First EV Showroom in Hyderabad

Jupiter Electric Mobility Pvt Ltd (JEM), the electric commercial vehicle arm of Jupiter Wagons Ltd, has inaugurated its first showroom in New Bowenpally, Secunderabad, Hyderabad. The launch also marks the introduction of its 1.05-tonne four-wheeler electric light commercial vehicle (eLCV), JEM TEZ, to Telangana’s growing logistics and intra-city freight market. This expansion underscores JEM’s commitment to delivering purpose-built sustainable mobility solutions and accelerating the electrification of India’s logistics sector.The new showroom, operated by Arven Motors Pvt Ltd, offers cus..

Next Story
Infrastructure Energy

Premier Energies Launches 620W DCR Solar Modules in India

Premier Energies Limited, one of India’s largest integrated solar manufacturers, has launched its next-generation 620W DCR solar modules using G12R TOPCon technology, now among the most powerful large-format panels available in the country.The new modules, built with Tunnel Oxide Passivated Contact (TOPCon) architecture, deliver superior power density, improved temperature coefficients, and enhanced low-light performance. The rectangular G12R N-type cell design enables higher string power and balance-of-system optimisation, making the panels suitable for utility-scale projects as well as com..

Next Story
Infrastructure Energy

ONGC Starts Gas Sales from Rajasthan Chinnewala Tibba Block

Oil and Natural Gas Corporation Limited (ONGC) has commenced natural gas sales from the Discovered Small Field (DSF-II) Block RJ/ONDSF/Chinnewala/2018, marking the successful monetisation of the Chinnewala Tibba field in the Rajasthan Kutch Onland Exploratory Asset (RKOEA). Gas sales officially began on 25 August 2025.This development highlights ONGC’s commitment to boosting domestic energy production and strengthening India’s energy security under the guidance of the Ministry of Petroleum and Natural Gas. Located in western Rajasthan, close to the Indo-Pakistan border, the Chinnewala Tibb..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?