It was also reported that Israel’s Ministry of Finance has decided not to approve a joint bid from DP Word with Israel Shipyards for security reasons.

In a statement, DP World said, “Although we have decided not to participate further in the privatisation of the Port of Haifa, we remain interested in investing in Israel as a key trade hub.”

In October, it was reported that DP World is partnering with UK-based state-owned CDC Group to invest $1.7 billion to develop ports in Africa. DP World will invest around $1 billion in facilities at Dakar in Senegal, Ain Sokhna in Egypt, and Berbera.

CDC Group will commit $320 million initially and an additional $400 million over the next few years.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World told the media, “DP World views Africa as a long-term growth market and the opportunity landscape remains significant.

“This partnership with CDC offers us greater flexibility to accelerate and capitalise on these opportunities, and will enable us to increase our investment in ports and logistics infrastructure across Africa.”

Last month, DP World announced the launch of its global wholesale e-commerce platform DUBUY.com in Kenya. The launch in Kenya marks the six-month milestone since DUBUY.com first began trading operations in Rwanda.

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DP World submitted a joint bid along with Israel Shipyard Industries to privatise Israel’s Haifa Port. Both parties signed an agreement for exclusive cooperation in the privatisation of the port. This is one of the biggest deals to happen after both Israel and the UAE agreed to normalise terms in September earlier this year.

DP World signed a memorandum of understanding (MoU) with Israel’s DoverTower- co-owner of Israel Shipyards, with regard to the privatisation of Haifa Port in September.

In this regard, DP World Chairman Sultan Ahmed bin Sulayem earlier told the media, “Israel has two ports, the port of Ashdod and the port of Haifa. They are strong ports in excellent locations. If there is an opportunity, there is nothing to prevent us from having a presence there.”

“Our work to build trade routes between the UAE, Israel and beyond will help our customers to do business in the region more easily and efficiently,” he added.

DP World also signed a Memorandum of Understanding (MoU) with Bank Leumi to enhance trade and logistics in Israel. Under the terms of the deal, both parties will promote trade between Israel and the wider Arab region. They will also access opportunities to develop ports or logistics assets in Israel.

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