Eilat Port Continues Operations Amid Financial Challenges

Eilat Port Company continues to operate today, following efforts to find a solution that will allow the port's continued activity. These efforts are being made with several entities, including the Ministry of Economy, Ministry of Transportation, Ministry of Finance, Eilat Municipality, the Workers Union, and Ashdod Port. According to reports, Eilat Municipality has agreed to postpone the collection of property tax debts. The decision to continue operations was made by the port company's management.


It should be noted that last Wednesday, Eilat Municipality informed Eilat Port management about the freezing of all the port's bank accounts due to financial debts to the municipality estimated at 10 million shekels. Eilat Municipality was forced to freeze Eilat Port's accounts by law, following a delay in property tax payments estimated at about 600-700 thousand shekels per month. The port company did not pay its debts to the municipality in recent months, given the port's shutdown since the outbreak of the war and threats to ships sailing in the Red Sea aiming to reach Israeli ports.


It also appears that the port owes the state about three million shekels for usage fees paid for the use of infrastructure and are supposed to be transferred by the port company to the Israel Ports Company.


In light of this, a notice was received from the Shipping and Ports Authority that Eilat Port is expected to close and cease all activity starting from Sunday, July 20. This means stopping all port activity; shutting down the port's tugs and vessels; stopping assistance to the Navy in the Red Sea area; stopping the export of slag from Kil factories; stopping assistance to the Ktza'a Port.