The UAE will build a new Red Sea port in Sudan as part of a $6 billion investment package, DAL Group chairman Osama Daoud Abdellatif said.
Abdellatif who is a partner in the deal noted that the package includes a free trade zone, a large agricultural project, and an imminent $300 million deposit to Sudan’s central bank.
According to Finance Minister Jibril Ibrahim, Sudan has signed a memorandum of understanding (MoU) with the UAE for a new port and an agricultural project.
The $4 billion port, a joint project between the private Sudanese conglomerate and Abu Dhabi Ports, owned by Abu Dhabi’s holding company (ADQ), would be able to handle all kinds of commodities and compete with the country’s main national port, Port Sudan, Abdellatif said.
Located about 200 km (124 miles) north of Port Sudan, it would also include free trade and an industrial zone modeled after Dubai’s Jebel Ali, as well as a small international airport, he said. The project is in “advanced stages,” with studies and designs complete, he said.
The UAE deal also includes the $1.6 billion expansion and development of an agricultural project by Abu Dhabi conglomerate IHC and DAL Agriculture in the town of Abu Hamad in northern Sudan, Abdellatif added.
Alfalfa, wheat, cotton, sesame, and other crops would be grown and processed on the 400,000 acres of leased land, he said. A $450 million, 500 km (310 miles) toll road connecting the project to the port would be built as well, financed by the Abu Dhabi Fund for Development.
Moreover, under the agreement, the Fund would also make a deposit of $300 million to the Central Bank of Sudan, Abdellatif said.
