Israel Ports Development & Assets Company Ltd. today presented to Minister of Transport Shaul Mofaz a $6 billion master plan for development of the ports over the next 50 years. The cabinet will vote on the plan in February.
The first stage of the plan, through 2015, includes construction of a 1,000-meter long and 600-meter wide terminal suitable for very large ships, at a cost of $700 million. The master plan does not say whether the new terminal will be built at the Ashdod Port or Haifa Port.
The plan states that, in order to meet anticipated demand in 2055, a 9,200-meter pier will be needed. Current and planned piers are a maximum of 3,300 meters long.
Ports Company acting CEO Shlomo Brieman said that 98% of Israeli trade goes through the ports, and that trade doubles every ten years. Global container traffic is also growing by more than 10% a year, following the introduction of innovative very large ships that have double the capacity of existing ships.
Ministry of Transport director general Gideon Siterman said one of the most important factors for deciding which port will lead the development work will be proper labor relations between management and workers. He said that he planned to set up an inter-ministerial committee to examine the alternatives.
Published by Globes [online], Israel business news - www.globes.co.il - on January 22, 2007
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