The winner will operate the port for 15 years with an option to extend for 10 years. Eilat Port posted a net profit of NIS 9 million on NIS 56 million revenue in the first half of 2011
The Israeli Ministry of Finance announced last week its decision regarding the five finalists in the tender for sale of the government stake in the Eilat Port Company Ltd. The winner will operate the port for 15 years with an option to extend for 10 years.
The five finalists were picked from seven bidders, out of the 17 companies that initially participated in the tender. The five finalists are Maman Cargo Terminals and Handling, Aviation Links Ltd., affiliated with Israel Chemicals Ltd., Gold Bond Group Ltd. Papo Maritime Ltd., owned by the Nakash brothers; and Gadot Group, owned by Yosef Maiman's Ampal-American Israel Corporation.
Officials from the Government Companies Authority, Israel Ports Development & Assets Company Ltd., and Tasc Strategic Consulting Ltd. reviewed the bidders' business plans.
The Ministry noted that the finalists will submit their final bids in two months. Ministry of Finance source believe that the decision on the sale will be made immediately afterwards.
The Ministry of Finance also noted that, in March, the Government Companies Authority would submit the decisions for protecting the state's vital interests in the Eilat Port, the safety net for its employees, and for import of motor vehicles from Asia through the port beginning in 2015, to the cabinet for approval.
Eilat Port posted a net profit of NIS 9 million on NIS 56 million revenue in the first half of 2011. The Eilat Port's main business is the import of cars and the export of chemicals.