The Indian ADANI Group continues to strengthen its business ties in Israel. As you may recall, last month the group won the tender for the privatization of Haifa port for approximately 1.1 billion dollars and yesterday its plans to use the port as a center for real estate development in the amount of approximately NIS 3 billion were revealed in Globes.
Today, the group announced in India that it intends to also locate investment opportunities in the high-tech field in Israel, and that to this end it signed a cooperation agreement with the Innovation Authority this week, which will help it establish cooperation with Israeli technology companies in a variety of fields. Among them technology to reduce emissions including solar energy, cyber defense, artificial intelligence, agricultural technology, IOT, 5G communication and more. According to the announcement “all these areas are at the core of the group’s business”.
The group stated that it intends to examine and select start-up companies and technologies operating in the field for the purpose of cooperation. As far as Adani is expected to cooperate with companies through the implementation of technologies in its subsidiaries, joint R&D and possibly also through capital investment, purchases and participation in recruitments. According to the language of the announcement, “the cooperation is a classic case of matching demand with supply between the two countries that have always had close ties.” Karan Adani, CEO of the Ports Company of the Adani Group, which won the tender in Haifa, said in a statement that “the purchase of the Haifa Port illustrates the Adani Group’s commitment to Israel and the agreement with the Innovation Authority is another big step, which gives the group access to hundreds of first-class companies.” of the Adani Group is currently estimated at approximately 206 billion dollars.