Iranian Missile Strike Caused $200 Million Damage to Haifa Power Plant, Israel Admits

According to Saed News, Radio Farda—a U.S.-backed Persian-language media outlet—has confirmed the considerable toll of Iran’s missile barrage on Israeli energy infrastructure, citing reports submitted to the Tel Aviv Stock Exchange. The Bazan Group, owner of Israel’s largest oil refinery and power generation facility located in Haifa port, announced on July 16 that the complex had sustained losses approximating $200 million following a missile strike during the recent Iran-Israel conflict.

The attack, which occurred on the fourth day of the 12-day war, reportedly involved an Iranian ballistic missile that struck critical installations within the compound, igniting a major fire and resulting in the deaths of three specialized personnel.

The Bazan complex is a linchpin in Israel’s energy supply, accounting for nearly 60 percent of diesel used in transportation and around half of the nation’s gasoline consumption. While partial operations have resumed, full restoration of the facility is not expected for another two months, the company stated.

Israel’s financial daily Calcalist reported Wednesday that Bazan has already received $48 million in emergency compensation from a state-run disaster relief fund. The scale of the damage has sparked broader concerns about the vulnerability of critical infrastructure in the face of advanced missile threats from Iran, underscoring the intensifying strategic dimensions of the regional standoff.