Sudan: UAE companies to build Red Sea port in $6 billion investment package

Source: 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.” (06/20/22)

https://www.reuters.com/world/middle-east/exclusive-uae-build-red-sea-port-sudan-6-billion-investment-package-2022-06-20/