Gadot Chemical Terminals Ltd. and Adani Ports and Special Economic Zone (APSEZ) have announced the formation of a joint venture in Israel.

"The company established a joint venture with Gadot Chemical Terminals (1985) Ltd in Israel on November 13, 2022, namely 'Mediterranean International Ports A.D.G.D Ltd'," APSEZ said in a BSE filing.

According to the statement, Mediterranean has established a joint venture with Gadot Chemical Terminals (1985) Ltd for the purpose of acquiring the Haifa Port Company, which is currently responsible for operating the Port of Haifa in Israel.

The main transportation division of the diversified Adani Group, Adani Ports and Special Economic Zones is the largest privately owned port and logistics company in India.