Adani Industries Has Plan To Continue Business In Israel!

The long-standing conflict between Israel and Palestine took an aggressive turn with Palestine opting for a deadly attack on Israel to settle the scores. The war has been going on for the past few days. The Hamas militants started the war and the Israeli forces are hitting back with counterattacks.

The ongoing war is a big concern for Indian business magnate Gautam Adani as the Haifa port which is run by the Adani groups is in Israel. The group is already said to have faced a dip of 4 percent in the shares with the war.

Amid the tough time, the Adani Group said that it is with Israel. Saying that they are closely monitoring the situation in South Israel while the port is located in the north. The group said that it has taken the required measures for the safety of the employees.

The Adani group surprised everyone by saying that it has a plan to be prepared with a business continuity plan in the nation. A press release was issued by the Spokesperson of the Adani Ports and SEZ Limited in this regard.

The Gautam Adani Limited’s decision is not surprising given the massive amount spent on acquiring the port in the war-hit nation. It is known that the Adani industries acquired a few ports and is running them.

The Haifa port is one of them and the company spent as much as $1.18 billion. The company acquired the port earlier this month by winning it in a bid. Due to the ongoing tense situation, the Adani Port stock price is said to have gone down by 4.1 percent already.

"At a time like this, our thoughts continue to be with the people of Israel. We are closely monitoring the action on ground which is concentrated in South Israel, whereas Haifa port is situated in the North. We have taken measures to ensure safety of our employees and all of them are safe," Adani Industries said.