Nakash brothers up ante to NIS 120m, win Eilat port franchise

Shipping firm Papo, which is owned by brothers Avi, Rafi and Joseph Nakash, will pay the government NIS 120 million for the franchise, after bidding NIS 100.5 million last month and improving on the offer twice.

By Avi Bar-Eli and Daniel Schmil | 06:35 07.11.12 |

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Avi Bar-Eli

Daniel Schmil

The first privatization of an Israeli port is coming to fruition after a tender committee yesterday approved a revised bid by Papo Maritime to operate Eilat port for the next 15 years.

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Nakash brothers up ante to NIS 120m, win Eilat port franchise

Shipping firm Papo, which is owned by brothers Avi, Rafi and Joseph Nakash, will pay the government NIS 120 million for the franchise, after bidding NIS 100.5 million last month and improving on the offer twice.

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