Sudan has offered 124 projects to Saudi contractors comprising investment in the infrastructure worth around $18 billion, a Sudanese Minister has said.
The Sudanese government offered the projects at a conference held in Khartoum two days ago and attended by representatives of the Saudi public and private sectors.
“We offered 124 projects to the Saudis in various sector…they include around $18 billion worth of infrastructure projects, mainly in rail networks, roads and ports,” Sudanese Investment Ministry Al-Hadi Ibrahim said.
He told the Saudi daily Aleqtisadia that the Saudi Red Sea Development Company had initially agreed to undertake port expansion projects in Sudan and that the two sides would meet within 10 days to discuss them.
Head of the Saudi-Sudanese Business Council Hussein Bahri said Saudi Arabia direct investments in Sudan are estimated at around $4 billion and that the Council expects them to double in the next few years.
(Writing by Nadim Kawach; Editing by Anoop Menon)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here
© ZAWYA 2021