Iran Israel war: Bad news for Gautam Adani due to...
Gautam Adani has extensive investments in Israel. (File)
Iran-Israel War: The recent escalation in the Iran-Israel war has brought major concerns for Gautam Adani, India's second richest man, as the Adani Group boss has made huge investments in Israel, which are now under a major threat as the conflict in the Middle East is likely to boil over into a major military confrontation between Iran and Israel.
As per details, Gautam Adani-led Adani Group has extensive investments in Israel, ranging from high-stakes defense ventures with Israeli defense firms, to the Haifa port, in which the group, in partnership with Israel's Gadot Group, purchased a 70 percent stake in 2023 for $1.2 billion. Adani Ports has major stake in Israel's Haifa Port
The Haifa Port is one of key trade ports for Israel, and also accounts for around 3 percent of the total cargo volume of Adani Ports. However, Gautam Adani's investment in the Israeli port is now under serious threat due to escalation in the Iran-Israel war.
According, regional stability has drastically declined amid the raging Iran-Israel war, and could result in delays in cargo delivery at the Haifa Port and changes in shipping routes.
Iran launched a barrage of drones and missiles at Israel on the intervening night of Friday and Saturday in response to the latter airstrikes in the country, that killed several top Iranian military commanders and nuclear scientists. The Haifa Port remained untouched in the Iranian assault as it located in northern Israel, while the attack took place in the southern part.
However, future Iranian attacks may not spare's Israel's north, and also threatens to affect Mediterranean trade routes. Adani Group's joint defense ventures in Israel
Notably, Gautam Adani's investments in Israel are not limited to ports, but extend to significant joint defense ventures in the Jewish state. In 2018, Adani Enterprises partnered with Israel's Elbit Systems, establishing the Adani Elbit Advanced Systems India, which manufactures Hermes 900 drones in Hyderabad, that are extensively used by the Israeli Defense Forces (IDF).
While Adani's defense venture is likely to benefit from the ongoing conflict, his investment in Haifa Port faces a major threat as tensions escalate.
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