Home | News    Friday 25 July 2003

Sudan signs accord with Saudi company for new aviation firm

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KHARTOUM, July 25 (AFP) — The Sudanese government has signed an agreement with a Saudi Arabian firm to set up an aviation company with a capital of 500 million dollars, a press report said Friday.

Al Anbaa daily said the Saudi Khuzah Investment and Financial Consultancies Company, which signed the agreement here on Thursday, would put in 60 percent while the Sudanese government would pay the remaining 40 percent of the capital.

The official daily said the company, a partnership between Khuzah and the Sudanese Ministry of Aviation, would modernise Khartoum and other Sudanese airports and would bring in 15 new passenger planes to begin operations in three months’ time.

The Saudi company, whose General Manager Jabir al-Manshawi was quoted by the daily describing the opportunities for investment in Sudan as attractive, also signed a memorandum of understanding with the Sudanese government and two private Sudanese firms to establish a sugar venture with a capital of 137 million dollars.

Khuzah will hold 50 percent, while Alwifaq Agricultural Company will take 25 percent, Al-Basatah and Masarrat company 15 percent and the Sudanese government the remaining 10 percent of the shares of the Blue Nile Sugar Company.

With headquarters in Sennar town, about 300 kilometres (190 miles) southeast of Khartounm, the company will produce 250,000 tonnes of sugar anually, Al Anbaa said.

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