The privatization of the Haifa Port was approved by Finance Minister Avigdor Liberman and Transportation Minister Merav Michaeli on Wednesday, according to Jerusalem Post.
The state's shares in the port - worth NIS 4.1 billion - will be sold to a group formed by Gadot Chemicals Tankers & Terminals Ltd and the Indian Adani Ports and Special Economic Zone Ltd.
The privatization of the port was first decided on in 2003 as part of a reform plan for the country's sea ports. The plan aims to increase competition at the ports and improve their efficiency.