Adani plans to establish an AI lab in Tel Aviv and build homes in Haifa
In order to capitalize on a USD 1.2 billion agreement for the Haifa port, Indian billionaire Gautam Adani's ports-to-energy company will establish an artificial intelligence lab in Tel Aviv.
At the signing of the agreement to acquire Haifa Port in Israel, Adani, whose business empire was shaken by claims of fraud by US short seller Hindenburg Research, talked about investment potential alongside Israeli Prime Minister Benjamin Netanyahu.
He made no mention of the controversy, which has already cost his group's equities almost USD 70 billion in value.
The 60-year-old Adani said that his organization would also develop land near the port to change the Haifa skyline.
He said in his address that "we have started a number of dozen technological ties" and "offered the whole Adani portfolio of firms to be a gigantic sandbox for us to develop together."
We are also in the midst of establishing an AI lab in Tel Aviv, which will closely cooperate with our brand-new AI laboratories in India and the US. Adani Group has formed several important alliances over the last six years with organizations including Elbit Systems, Israel Weapon Systems, and the Israel Innovation Authority.
In July of last year, Adani Ports & Special Economic Zone Ltd. won the Israeli government's contest to purchase the Haifa Port, a significant commercial center on Israel's Mediterranean coast, for around USD 1.2 billion in cooperation with local chemicals and logistics business Gadot.
"A significant quantity of real land is also included with the purchase of the Haifa port. And I guarantee that in the next years we will change the skyline in the area "The organization's founder and chairman, Adani, remarked.
"The Haifa of the future won't resemble the Haifa you see now at all. We will fulfill this goal and contribute to the transformation of our city with your help." He expressed confidence that the whole port landscape could be changed. We are aware that there will be rivalry from other parties, but we are confident because we have faith in the Israelites and the Israel Growth narrative. In order to make Israel as a whole, not only the Adani Gadot collaboration, proud, he stated, "our objective is to make the proper combination of investments."
He said that the Israeli spirit is what makes all the difference, and added that his organization hopes to collaborate with nearby universities like the University of Haifa in order to take use of the rich technical talent present in this area.
According to Adani, the connection between India and Israel began on September 23, 1918, when troops from the Indian towns of Mysore, Hyderabad, and Jodhpur fought here for Haifa's independence.
"Additionally, I got the chance to visit the cemetery earlier today where our warriors were laid to rest. It was a touching time for me to consider how warriors from both of our nations battled side by side for the final common cause that we all refer to as — Freedom, in the port that we now share, which is a part of the same city "said he.
He continued by saying that Israel has always inspired him. "You have altered the parameters of what a nation with less than 10 million people can do. You have changed the game by demonstrating what a nation with little natural resources is capable of. You have also changed the game by demonstrating the potential of a nation that has self-confidence." Israel is the most adaptable country in the world because of its flexibility. "I'm in awe of how quickly you're innovating across different industries. I wonder what we might learn from your innovative spirit given how driven you are. Before everyone else in the world was talking about sustainability, you concentrated on sustainable growth "said he.