Israel-Iran war: In a major worry for industrialist Gautam Adani the Adani Group Chairman could lose an investment of $1.2 billion in Israel due to the ongoing Israel-Iran war which has escalated each passing hour since Israel launched deadly airstrikes on Iran earlier this week. On Saturday night Iran targeted the Israeli coastal city of Haifa with a barrage of ballistic missiles and suicide drones causing significant damage. Haifa houses the strategic Haifa Port in which Gautam Adani acquired a 70 percent stake worth $1.2 billion in 2023. The coastal city is also home to a major Israeli naval bases besides the countrys largest oil refinery which is located in the Haifa Bay area and several chemical plants. Iran said the attack targeted Israels oil refineries and naval base in Haifa not civilian infrastructure. Adani Ports stake in Israels Haifa Port As per details the Adani group in partnership with Israels Gadot Group purchased a 70 percent stake in the Haifa Port in 2023 for $1.2 billion. Gadot owns a 30 percent stake in the joint venture which has the contract to operate the Haifa port till 2054. Gautam Adanis investment under threat The Haifa Port is one of key trade ports for Israel and also accounts for around 3 percent of the total cargo volume of Adani Ports. However Gautam Adanis investment in the Israeli port is now under serious threat due to escalation in the Iran-Israel war. According to experts regional stability has drastically declined amid the raging Iran-Israel war and could result in delays in cargo delivery at the Haifa Port and changes in shipping routes. The ill-effects of the Israel-Iran war are already being seen on Adani Group shares on Friday with shares of Adani Port considered the cash cow of the group slumping by more than 3% to Rs 1396 and closing at Rs 1405.25 apiece a decline of 2.71 percent. The shares of Adani Enterprises the flagship firm of the Adani Group also dipped 1.36 percent closing at Rs 2505.65. Gautam Adani investments in Israel Gautam Adanis investments in Israel are not limited to ports but extend to significant joint defense ventures in the Jewish state. In 2018 Adani Enterprises partnered with Israels Elbit Systems establishing the Adani Elbit Advanced Systems India which manufactures Hermes 900 drones in Hyderabad that are extensively used by the  Israeli Defense Forces (IDF). While Adanis defense venture is likely to benefit from the ongoing conflict his investment in Haifa Port faces a major threat as tensions escalate.