The competent authority for privatization in Israel said the Dubai Ports World Company has withdrawn from a joint offer with an Israeli company to privatize the Israeli port of Haifa.
Israel is selling its state ports and building new private ones in an effort to encourage competition and cut costs.
DP World has entered into an agreement with Israel Shipyards Industries to collaborate exclusively in the privatization of the port of Haifa, one of the two main Israeli ports on the Mediterranean.
But in a statement released late Thursday evening, the Israeli State Corporation Authority said DP World has called for an end to its partnership in this offer, adding that Shipyards Industries asked to go it alone.
Dubai Ports has not made any comments yet.
The joint bid was one of several projects between Israel and the UAE that followed the two countries’ agreement to normalize relations last year.
The winner of the tender for the privatization of the port of Haifa is expected to be announced by the end of 2021.
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