60 days after the 2009 economic arrangements bill is passed, the Ministry of Finance will submit a proposal to sell government holdings in the Haifa Port Company, Ashdod Port Company and Eilat Port Company Ltd to the ministerial committee for privatization. ??These moves are in line with the 2005 ports reform agreement inked with the Histadrut (General Federation of Labor in Israel) and ports' workers committees. ??
The government is now keen to hasten the timetable and sell 49% of the ports companies' as soon as possible. The draft economic arrangements bill permits institutional investors to participate in the offerings as financial investors. According to the economic arrangements bill the government intends to privatize the Eilat Port on the basis of a proposal that will be submitted to the ministerial committee for privatization. The government has an option to sell minimum 15% of the Eilat Port Company starting 2010. In 2008, the government started to prepare to privatise the Eilat Port. The Ministry of Finance has already appointed a team headed by Government Companies Authority deputy director general Assaf Regev to promote the sale.
The government is now keen to hasten the timetable and sell 49% of the ports companies' as soon as possible. The draft economic arrangements bill permits institutional investors to participate in the offerings as financial investors. According to the economic arrangements bill the government intends to privatize the Eilat Port on the basis of a proposal that will be submitted to the ministerial committee for privatization. The government has an option to sell minimum 15% of the Eilat Port Company starting 2010. In 2008, the government started to prepare to privatise the Eilat Port. The Ministry of Finance has already appointed a team headed by Government Companies Authority deputy director general Assaf Regev to promote the sale.