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Sudan is set to develop a new port-Abu Amama Port- in the Red Sea’s economic zone. Towards this, the country has signed an agreement with a consortium led by the United Arab Emirates AD Ports Group and Invictus Investment, which will entail a project cost of US$ 6 billion
Sudan is set to develop a new port-Abu Amama Port- in the Red Sea’s economic zone. Towards this, the country has signed an agreement with a consortium led by the United Arab Emirates AD Ports Group and Invictus Investment, which will entail a project cost of US$ 6 billion. The port will give a powerful boost to the national economy and bring countless benefits to the country as a whole, according to Sudanese Finance Minister Gibril Ibrahim, who witnessed the signing ceremony recently.
The port will be built north of Port Sudan, which caters to the trade needs of almost all of the country’s trade and South Sudan’s oil exports. There will be an industrial zone, an international airport, and an agricultural zone built in the new port, which will be spread across more than 400,000 acres. AD Ports Group is majority owned by ADQ, an Abu Dhabi sovereign wealth fund. The Invictus Investment is headed by Osama Daoud Abdellatif, head of the Dal Group, Sudan’s largest conglomerate.
The agreement gave the consortium the right to develop, manage and operate port and economic zone assets in Sudan. Importantly, Sudan’s ruling military leadership signed a framework agreement with several civilian groups on December 5 to help the country come out of the morass it has been in since the October 2021 coup led by the army chief Abdel Fattah al-Burhane.
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Sudan is a major trading partner of the UAE, having bilateral trade of over US$ 2 billion. Sudan’s exports to the UAE amounted to US $1.86 billion in 2020, while imports from the UAE amounted to US 1.14 billion for the same period.
