Israel opens Chinese-run terminal at Haifa port
Biden's CIA director raised concerns about Beijing's growing investment in Israel, according to a report.
Israel opened a new terminal run by a Chinese firm at the port of Haifa on Thursday, in a move expected to boost Israel’s economy and open new opportunities for trade with Gulf countries.
The inauguration comes as Israel seeks to increase the flow of goods into its ports and increase competition by lowering prices. Israel relies on its ports — chief among them Haifa — for some 90% of the country’s goods.
The 5.5 billion Israeli shekel ($1.7 billion) terminal is to be managed by China’s state-owned Shanghai International Port Group (SIPG).
The 25-year management agreement raised security concerns in Washington. The US Navy frequently makes stops at Haifa, while the Israeli navy also maintains its largest base adjacent to the port.
