A consortium including AD Ports Group has signed a new deal to develop port and economic assets in Sudan.
The group, including AD Ports Group and Invictus Investment, signed off the agreement with the Government of the Republic of Sudan that provides them with the right to develop, manage, and operate port and economic zone assets in the African nation.
The consortium will have the right to directly develop, manage, and operate specified port and economic zones assets.
They will also be able to create joint ventures, partnerships, or other business agreements to support the financing, development, construction, management, and operation of the projects.
The Heads of Terms follows an earlier agreement between AD Ports Group and Invictus Investment to launch a new international dry bulk shipping service to serve as the carrier for Invictus’ dry-bulk trading business, which is a major transporter of commodities to and from the Sudanese market.
Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group, said: “AD Ports Group continues to extend its international reach under the guidance and direction of our wise leadership, supporting the development of port and trade assets in key markets around the world.”
Osama Daoud Abdellatif, Chairman of Invictus Investment Company PLC, said: “Invictus Investment is proud to be part of the consortium selected by the Government of the Republic of Sudan for this important agreement.
“Drawing on our deep experience of working with customers in Sudan, and working alongside AD Ports Group, which is the premier global trade, logistics and transport enabler, we will strive to meet their high expectations and deliver for the people of Sudan.”
During the last 25 years, exports from the United Arab Emirates to Sudan have increased from $37.8 million in 1995 to $1.14 billion in 2020.
Last month AD Ports Group and Transmar International Shipping Company (Transmar) launched a new container shipping service that will link Karachi with the major maritime economies of the Middle East and East Africa.