1st investment in the country since military coup includes construction of port, free trade zone and agricultural project
The UAE will build a new port on the Red Sea in Sudan. The work will be carried out in partnership with the DAL group –the largest Sudanese company– as part of a US$6 billion investment package.
The information was provided by the company’s president, Osama Daoud Abdellatif, to Reutersand published this Tuesday (June 21, 2022).
According to the tycoon, the package includes a free trade zone and a major agricultural project. A $300 million deposit will also be made to the central bank of Sudan. This would be the first such operation since the military took power in October last year.
In retaliation for the coup d’état, Western countries imposed sanctions on the North African nation and stopped donating billions of dollars, exacerbating the economic crisis.
Senior Sudanese officials told the Reuterson condition of anonymity, that the new agreement was reached between the leader of Sudan, General Abdel Fattah al-Burhan, and the President of the United Arab Emirates, Mohammed bin Zayed Al Nahyan, in a recent meeting.
PROJECTS
The port will cost US$ 4 billion. The project, which is in “advanced stage”, is the result of a partnership between the DAL group and Abu Dhabi Ports. According to Abdellatif, the place will receive all kinds of commodities and will be able to compete with the country’s national port, Port Sudan.
In addition, the port would have an industrial and free trade zone and a small international airport.
The agreement with the United Arab Emirates also includes the expansion and development of an agricultural project by the IHC conglomerate and DAL Agriculture. The project will cost US$ 1.6 billion.
The objective of the investment is to grow and process alfalfa, wheat, cotton, sesame and other products, and to build road infrastructure to link the farms to the port.
When the military toppled Omar al-Bashir in 2019, the UAE and Saudi Arabia pledged to donate $3 billion to Sudan. According to Sudanese military and civilian leaders, the amount has not been fully delivered to date.
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