Logistics

UAE to spend $4 billion on new port complex in Red Sea

Seetao 2022-06-23 13:59
  • The port is located about 200 kilometers north of Port Sudan, and the port plan includes a free trade zone and industrial park
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DAL Group Chairman Osama Daoud Abdellatif said the UAE's $6 billion investment plan in Sudan includes a new port in the Red Sea. Sudan's finance minister said the country had signed a memorandum of understanding with the UAE on port and agricultural projects. Sudan, which has long been plagued by inadequate infrastructure, was locked down for six weeks in late 2021 due to a coup d'etat, losing the business of major international shipping companies.

Abdellatif said the port project, valued at US$4 billion, is a joint venture between DAL Group and AD Ports Group (Abu Dhabi Ports Company) and will be able to handle a variety of commodities and compete with the country's main port, Port Sudan. The port is located about 200 kilometers north of Port Sudan. The port plan includes a free trade zone and industrial park similar to Dubai's Jebel Ali Port, as well as a small airport. Abdellatif said the project is already at an advanced stage, with research and design complete.

The $6 billion investment plan also includes a large agricultural project and a $300 million deposit to Sudan's central bank. The Abu Dhabi Development Fund will finance the cultivation and processing of various crops on 400,000 acres of leased land and build a toll road to connect the agricultural project with the port. Editor / Xu Shengpeng


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