Adani Group CFO denies media report on Haifa port damage

Adani Group CFO Jugeshinder Robbie Singh has denied media report claiming damage to the company’s cargo facility in Haifa in a social media post on X, calling them “false.” The clarification came in response to an Iranian social media post reportedly featuring a photo of a burning fuel depot in Tehran, misrepresented as Haifa.

While Iran had claimed to have targeted military and energy infrastructure in the Israeli port city, in response to the Israeli Operation Rising Lion, Singh’s response confirms that Adani’s Haifa port operations remain unaffected.

However, the group is yet to issue an official statement on the matter.

Shares of Adani Ports and SEZ opened at ₹1,389, down 1.15% from its previous close of ₹1,405, and dropped 2% to a low of ₹1,375 in early trade. As of 10:03 AM, the shares were trading at ₹1,399.20 on the NSE.

According to media reports, the company’s Haifa Port in Israel remains fully operational despite a recent Iranian ballistic missile attack.

The story behind the Haifa port

Haifa, Israel’s largest port on the Mediterranean, is a critical gateway that handles over 30% of the nation’s seaborne trade. In January 2023, a consortium led by Adani Ports and SEZ—holding a 70% stake alongside Israel’s Gadot Group—acquired the port for nearly 4 billion shekels ($1.15 billion). The move came as part of Israel’s broader port privatisation push, positioning Adani at the heart of a key strategic and commercial hub in the Middle East.

Since the acquisition, Adani has worked to scale up operations, with the port handling over 10.6 million metric tonnes of cargo in FY25. It serves as a critical gateway on the Europe-Asia trade route via the Suez Canal and is central to the proposed India-Middle East-Europe Corridor (IMEC). The port is deeply integrated with Israel’s railway and energy infrastructure, which heightened concerns following the missile strike. However, there has been no official comment on any impact to the nearby oil refinery.

Haifa contributes about 5% to Adani Ports' revenue but less than 2% of its total cargo volume, making it a symbolic but not dominant asset in the group’s global portfolio.

Iran-Israel conflict updates

On June 15, 2025, Israel launched a broader offensive against Iran, striking key targets including its energy infrastructure and Defence Ministry headquarters. Iran also fired a new wave of missiles, with blasts reported across Tehran. The attack was blamed for killing four people in northern Israel. Explosions echoed near midnight as both Israeli and Iranian officials confirmed the latest exchange.