UAE To Build Red Sea Port in Sudan in $6 Billion Investment Package
The United Arab Emirates will build a Red Sea port in Sudan, Reuters first reported. The new port is part of a $6 billion investment package, a Sudanese partner in the deal, told the news service. Osama Daoud Abdellatif, chairman of DAL Group – a private Sudanese conglomerate and the largest private company in the country, said that the investment package includes a free trade zone, a large agricultural project and a $300 million deposit to Sudan’s central bank. It is the first announcement of investment in Sudan since the military takeover of Sudan in October, according to the report.
Abdellatif told Reuters that the agreement was reached initially in July 2021, under the civilian-led transitional government. Unnamed cabinet members of that government told Reuters that a different version of the deal was discussed last year but did not move to a vote due to some reservations.
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The $4 billion port, which would compete with the country’s main national port, Port Sudan, is a joint project between DAL group and Abu Dhabi Ports, owned by Abu Dhabi’s holding company ADQ. The $1.6 billion expansion and development of an agricultural project will be undertaken by Abu Dhabi conglomerate IHC and DAL Agriculture in the town of Abu Hamad in northern Sudan.
Western donors suspended billions in aid and investment to Sudan after the coup.
