Development UAE group in $6bn deal to build economic zone in Sudan By Reuters December 14, 2022 REUTERS/Mohamed Nureldin Abdallah The project, located near Port Sudan, will include an economic zone, an airport and an agricultural zone Sudan on Tuesday signed a preliminary agreement with a group led by the UAE’s AD Ports Group and Invictus Investment to build and operate the Abu Amama port and economic zone on the Red Sea with a $6-billion investment. The project, located about 200 km north of Port Sudan, would include an economic zone, an airport and an agricultural zone of 415,000 acres. A 450-km-long road will connect Abu Amama port with the agricultural area of Abu Hamad in Sudan’s River Nile State, the two sides said at the signing ceremony held in the Sudanese capital, Khartoum. Invictus Investment is headed by Osama Daoud Abdellatif, the chairman of Sudanese conglomerate DAL, who had previously described the port as a joint project between DAL group and AD Ports. AD Ports is owned by Abu Dhabi’s holding company ADQ. Abdellatif had said the port would be able to handle all kinds of commodities and would compete with the country’s main national port, Port Sudan, which has suffered recently from stoppages linked to the country’s political turmoil. Sudan’s finance minister Jibril Ibrahim said the country would be entitled to 35 percent of the net profits from the $6 billion Abu Amama venture. The deal was signed just over a week after Sudan’s military and civilian political parties signed a framework agreement aimed at forming a civilian government and launching a new political transition after an October 2021 coup.