TEL AVIV – The U.S. Navy said it may pull its longstanding operations in Haifa port once a Chinese firm takes over in 2021, prompting Israel’s national security cabinet to revisit the deal with Shanghai, according to an Israeli news report.
Israel’s Transportation Ministry struck an agreement in 2015 with Shanghai International Port Group (SIPG) — a company in which the Chinese government has a majority stake — a deal that is now coming under interagency review, the Jerusalem Post reported. According to the terms of the deal, SIPG would control the port for 25 years. The Shanghai company has a $2 billion stake in the project, including plans to convert the bay terminal into the largest harbor in Israel. Continue reading “Report: U.S. Navy Could Stop Docking in Israeli Port After Chinese Takeover”