70% of the development budget, NIS 385 million, was designated for the construction of advanced container terminals and breakwaters at the Ashdod Port and Haifa Port
The board of Israel Ports Development & Assets Company Ltd. (IPC) approved late last month a NIS 525 million development plan for 2008.
In a statement issued by Yiftach Ron-Tal, the Ports Development Company new chairman, it was noted that 70% of the development budget, NIS 385 million, was designated for the construction of advanced container terminals and breakwaters at the Ashdod Port and Haifa Port.
Israel Ports Development & Assets Company Ltd. is responsible for the development of Israel's three commercial seaports in Haifa, Ashdod and Eilat and for providing them with the necessary infrastructure which will allow them to efficiently and competitively handle Israel's international maritime trade.
Port Development Company acting CEO, Shlomo Briman, said that on the basis of the present budget and previously approved budgets, planned port development expenditures in 2008 would reach NIS 670 million.
The plan will now be sent to the ministers of Finance and Transport for approval.
