EXCLUSIVE UAE to build Red Sea port in Sudan in $6 billion investment package | Reuters
The United Arab Emirates will build a new Red Sea port in Sudan, as part of a $6 billion investment package, said DAL group chairman Osama Daoud Abdellatif, a partner in the deal which marks the first major foreign investment since the military took power in an October coup.
Abdellatif said the package includes a free trade zone, a large agricultural project and an imminent $300 million deposit to Sudan's central bank.
Western donors suspended billions in aid and investment to Sudan after the coup, plunging an economy that was already struggling into further turmoil and depriving the government of much needed foreign currency.
Ibrahim told Reuters on Wednesday that a memorandum of understanding had been signed with the UAE for a port and agricultural project, but the details have not previously been reported.
The finance ministry did not immediately respond to a request for comment on details of the deal.
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