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A consortium led by AD Ports Group and Invictus Investment has signed a one-term agreement with the Sudanese government giving them the right to develop, manage and operate ports and economic zone assets in Sudan.
Under the terms of the agreement, the consortium will have the right to directly develop, manage, and operate specific port and economic zone assets, and to enter into joint ventures, partnerships, or other business agreements to support the financing, development, construction, management, and operation of projects, Said a statement.
The terms follow a previous agreement between AD Ports Group and Invictus Investment to launch a new international dry bulk shipping service as carrier for Invictus Dry Bulk Trading business, a major transporter of commodities in and out of Sudan market.
Capt Mohamed Juma Al Shamisi, Managing Director and Group Chief Executive Officer of AD Ports Group, said: “AD Ports Group continues to expand its international presence under the guidance of our wise leadership, supporting the development of ports and trading assets in key markets around the world. We are grateful and honored for the trust placed in our consortium by the Government of Sudan by signing this agreement, and we look forward to working with them to develop and manage critical facilities.”
Osama Daoud Abdellatif, Chairman of Invictus Investment Company, said: “Invictus Investment is proud to be part of a consortium selected by the Government of the Republic of Sudan for this important agreement. Together with AD Ports Group, a logistics and transport enabler, we will strive to meet their high expectations and deliver services to the people of Sudan.”
Sudan is the main trading partner of the UAE. Over the past 25 years, UAE exports to Sudan have grown at an annual rate of 14.6%, from $37.8 million in 1995 to $1.14 billion in 2020, with key exports including raw sugar, jewelry and broadcasting equipment, while Exports from Sudan to the UAE grew at an annual rate of 18.4%, from $27.3 million in 1995 to $1.86 billion in 2020. – trade arab news agency
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