Chinese Company to Build New Port in Israel

Israel said on Monday it has selected a subsidiary of China Harbour Engineering Company to build a $950 million (3.3 billion shekel) port in southern Ashdod on Israel's Mediterranean coast.

Under the terms of the tender, the company, Pan-Mediterranean Engineering Ltd., will build new docks, warehouses and jetties, extending deep-water berthing capacities at the site, the Israel Ports Company said in a statement.

Israel also plans a second port further north in the city of Haifa but has not yet awarded the contract to build it.

Nearly all of Israel's trade is handled via sea, and the government hopes the two new ports will turn it into a shipping hub for the eastern Mediterranean.

(Writing by Dan Williams; Editing by Susan Fenton)