Home | News    Sunday 18 July 2021

Saudi investors plan to build new port in Sudan: minister

separation
increase
decrease
separation
separation

July 17, 2021 (KHARTOUM) - Saudi investors plan to build a new port in Sudan’s Red Sea coast, Gibril Ibrahim, Sudanese Minister of Finance told the Sudan Tribune on Friday.

Saudi men rest along the beach overlooking the Red Sea - (Photo Reuters/Susan Baaghil)From July 5 to 9, Jibril Ibrahim paid a visit to the Saudi capital, Riyadh, during which he met with 7 ministers and officials of the Central Bank. He was flanked by Energy Minister Jaden Ali Obaid and Investment Minister al-Hadi Mohamed Ibrahim.

In addition, they held a series of meeting with the Public Investment Fund, the sovereign wealth fund of Saudi Arabia, and 40 major companies.

"We agreed to hold the joint ministerial council meeting immediately after Eid al-Adha in Sudan. We are now preparing to hold it during the first week of August in conjunction with another meeting for Saudi and Sudanese businessmen," said the minister who was speaking in the margin of the Paris Club meeting on Friday.

He said that they felt great enthusiasm from the Saudis investors to work in Sudan, adding that besides an inclusive meeting with investors, they held individual meetings with big companies that its capital largely exceeds the Sudanese national income, as he said.

"They showed a real desire to work in Sudan, and we are optimistic that they would invest in Sudan."

"They are truly interested to build a new port in Sudan on the Red Sea. This project tops the priorities of Saudi investors in Sudan," he said.

"The matter was discussed with Saudi investment companies in long meetings," he further stressed without disclosing the company.

"Also, we discussed an investment project in an arable area near Atbara River in eastern Sudan. A memorandum of understanding had already been signed providing to cultivate one million acres. Actually, the project can be expanded to include two million acres after the raising of the wall of Setit river dam," he added.

On 11 July, Investment Minister al-Hadi Mohamed Ibrahim told the Sudan Tribune that Saudi investors plan to invest in infrastructure, electricity and main roads, besides projects to develop Port Sudan or establish another port on the Red Sea.

Ibrahim further said that Saudi investors are interested in livestock and poultry production.

"Some of them told us that their feasibility studies had been prepared in advance and that they were ready to work in Sudan," he added.

Speaking about investments from the other Gulf countries, the Sudanese minister said the entry of Saudi investments in development projects will be followed by other investments from the region.

The UAE had shown interest to invest in Port Sudan and Al-Fashaga area which is claimed by Ethiopia however their approach in the two projects was declined by the Sudanese transitional government.

Regarding the banking sector, Ibrahim said that they called on the Saudi Central Bank to facilitate remittances from expatriates, especially since some Saudi banks still adhere to the old restrictions that were imposed on Sudan before its removal from the list of countries supporting terrorism.

Also, he said they requested cooperation between the two countries with regard to combating terrorist financing, combating money laundering and encouraging Saudi commercial banks to work in Sudan.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.


The following ads are provided by Google. SudanTribune has no authority on it.



Sudan Tribune

Promote your Page too

Latest Comments & Analysis


Completion of 2nd GERD’s filling necessitates a shift in trilateral negotiations 2021-07-20 19:55:28 By A.Tesfaye Abera The completion of the second-year filling of the Great Ethiopian Renaissance Dam (GERD) instigates polarized views between Ethiopia, Sudan and Egypt. Mainly Egypt sees it as (...)

South Sudan legislators should be cautious about the oath they will take 2021-07-15 07:04:56 By Roger Alfred Yoron Modi It is a fact that the legislators of South Sudan’s incoming Reconstituted Transitional National Legislative Assembly (TNLA) are appointees of the parties to the (...)

What they said about Sudanese John Garang 2021-07-12 05:49:37 By Mahmoud A. Suleiman This article of a compilation of related topics comes against the backdrop of a number of issues relating to the Republic of South Sudan that was declared its inauguration (...)


MORE






Latest Press Releases


S. Korea supports UN communities building resilience project in Sudan’s Blue Nile 2019-09-09 09:26:41 UNDP Sudan September 5, 2019 (KHARTOUM) - An agreement was signed on 5th of September between the Korean Ambassador, His Excellency. Lee Ki-Seong and Dr. Selva Ramachandran, Resident (...)

Sudanese lawyers and Human rights defenders back calls for civil rule 2019-04-26 10:22:06 Press statement by 55 Sudanese lawyers and Human rights defenders on Sudan Sit-in and Peaceful Protest Khartoum -24/04/2019 We, the undersigned (55) Sudanese lawyers and human rights defenders, (...)

South Sudan’s Lafon youth condemn killings of civilians by Pari community 2019-04-03 21:54:29 Press Statement on the Fighting between Pari/ Pacidi and Lotuko/Lokiri on 24/3/2019 Release by The Lafon County Youth Union: We, the Lafon County Youth Union hereby condemn the atrocities and (...)


MORE

Copyright © 2003-2021 SudanTribune - All rights reserved.