Sudan inks $6 bn UAE deal for new Red Sea port ...Kuwait

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Sudan inks $6 bn UAE deal for new Red Sea port
Sudan signed Tuesday an initial $6 billion deal led by United Arab Emirates' AD Ports Group and Invictus Investment to build a vast new Red Sea port and economic zone. "The massive project, which is estimated to cost around $6 billion, will give a strong boost to the national economy and will bring countless benefits for the whole country," said Sudan's Finance Minister Gibril Ibrahim during the signing ceremony. The Abu Amama port, to be built north of the existing key hub of Port Sudan, will include an industrial zone, an international airport, and an agricultural area covering over 400,000 acres, Ibrahim said. AD Ports Group is majority owned by ADQ, among Abu Dhab

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