Israel Iran War: Iranian missile strikes on Gautam Adani's Haifa port, all operations suspended by…, why is it important for India?

India.com

3 hours ago

Gautam Adani (File)
Indian billionaire Gautam Adani-led group's Haifa port in Israel was unharmed by the Iranian ballistic missile attack, with cargo operations progressing unhampered, reported PTI citing sources.
Israel's largest oil refinery, Bazan, suspended all operations at its Haifa Port after the damage from an Iranian missile strike late Monday night, reported Economic Times.
Late on Saturday night, Iran targeted Israel's Haifa port and a nearby oil refinery in response to Tel Avi's attack on Iranian nuclear and other targets earlier this week.
Shrapnels fell in the chemical terminal at the port and some other projectiles fell at the oil refinery, two sources aware of the matter said. They claimed there were no injuries. Adani's port, however, was not impacted by the strike. A piece of interceptor shrapnel was also found at the Kishan West (Haifa port) but there were no injuries, they said.
Cargo operations at the Adani-operated port were unhampered. 'There are eight ships in the port now, cargo operations are normal,' a source told PTI. The Iranian ballistic missile attack did not inflict any damage to the port or its operations, the sources claimed. How Haifa port Operates?
Haifa port is totally functioning normally, sources said, adding 8 ships were handling cargo as on Sunday. The port has approximately 700 employees. It handles different type of cargo, including containers, bulk, breakbulk, cement and general cargo.
Haifa port serves as a crucial maritime hub, handling over 30 per cent of Israel's imports. It is owned by Adani Ports, which controls a 70 per cent share.
Haifa is less than 3 per cent of the volume handled by Adani Ports and SEZ and contributed less than 2 per cent to the profits. Haifa handles a total cargo of 10-11 million tonnes annually, while APSEZ annual volumes are upwards of 450 million tonnes.
Haifa is located at the nexus of Israel's economic and military networks, plays a critical role as an oil refinery, for industrial exports, and also for supporting naval operations. These functions give more importance to any foreign investor.
India's acquisition of the Haifa port is part of its broader goals within the proposed India-Middle East-Europe Economic Corridor (IMEC). This multinational initiative brings together India, Israel, the UAE, Saudi Arabia, the EU, and the US. It will connect Indian ports to Europe via the Arabian Peninsula and Israel. It can also be an alternative to the Red Sea–Suez Canal route.
For India, holding a direct stake in the Haifa port gives multiple advantages, like streamlined trade with Europe, enhanced logistics infrastructure, and strengthened strategic ties with regional partners.