The company signed an agreement with Israel Ports Development & Assets Company Ltd. allowing for the handling and storage of 200,000 tons of cargo of raw sugar a year
Israel Shipyards Ltd received last Wednesday a license from Finance Minister Ronnie Bar-On and Transportation Minister Shaul Mofaz to start providing port services.
The company signed an agreement with Israel Ports Development & Assets Company Ltd. allowing for the handling and storage of 200,000 tons of cargo of raw sugar a year.
According to the agreement Israel Shipyards Ltd will, in the first stage, use only one 200-meter pier and a storage area of 4 dunam. In addition, Israel Shipyards will provide ship maintenance and repair services at its site.
Shlomi Fogel co-owner of Israel Shipyards Ltd said to Port2Port that "This is a great day I am very excited and hope this will be the beginning of a new era, which will provide the State of Israel with many job openings, as well as goods which have yet to reach the country".
Israeli Federation of Freight Forwarders and Customs Clearing Agents (IFFCCA) chairman Shlomo Sharon said in response, “The operation of a private port can be good news about the start of competition, which will ultimately cut costs. An alternative to Haifa Port and Ashdod Port will improve service to customers, especially when port traffic is heavy”.
Israel Shipyards Ltd was founded as a governmental company in 1959, and was privatized in 1995 after losing about $200 million. The company is owned by Shlomi Fogel, Shlomo Shmeltzer & Sami Katzav.