BENGALURU: Billionaire Gautam Adani’s Adani Ports, operator of the Haifa Port in northern Israel, said on Monday it is closely monitoring the conflict in Israel and is prepared with a business continuity plan.

Israel is locked in a conflict with Palestinian group Hamas, retaliating to one of the bloodiest attacks in its history when the Hamas group killed 700 Israelis and abducted dozens more.

“We are closely monitoring the action on ground which is concentrated in South Israel, whereas Haifa port is situated in the North. We remain fully alert and prepared with a business continuity plan that will enable us to respond effectively to any eventuality,” Adani Ports said in a statement.

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Haifa accounts for 3% of Adani’s total cargo volume, the company added.

The company’s stock was down 4% in Mumbai trading on Monday.

A consortium led by Adani completed the purchase of Haifa Port for 4 billion shekels ($1.02 billion) in January.