Abu Dhabi Ports Company, owned by the UAE holding company ADQ, clarified on Tuesday that it has not entered into a deal to build a new port in Sudan. 

The UAE-listed firm issued the clarification in response to a media report that claims that it will set up a Red Sea port in Sudan as part of a $6 billion investment package. According to the report, the venture will include a free trade zone, an agricultural project and a $300 million deposit to Sudan’s central bank. 

“We would like to clarify that Abu Dhabi Ports Company has not signed any agreements in relation to a joint venture project to build a port in Sudan as suggested in the published report,” the firm said in a statement to the Abu Dhabi Securities Exchange (ADX). 

However, the company said there are “preliminary” talks taking place in Sudan, citing that it is “always exploring new opportunities and projects”. 

“The company will make the appropriate disclosure to the market should there be new projects on investments in accordance with the market’s applicable regulations,” it said. 

(Writing by Cleofe Maceda; editing by Seban Scaria)