Israel gave final approval for the privatization of Haifa port, one of its main seaports, in an effort to improve competition in an industry that has been plagued for years by high costs and labor disputes, the port said on Tuesday.
The green light by a ministerial privatization panel to sell the Mediterranean port in northern Israel came after the state reached an agreement with the main workers' union, which had initially opposed the plan. A competing port is expected to open in Haifa in the coming years.
The port said it will now look for buyers, giving a preference to those in the field of containers and maritime transport.
(Reporting by Ari Rabinovitch Editing by Steven Scheer)