AD Ports-led consortium signs initial pact to develop Sudan’s Red Sea port – The National

AD Ports-led consortium signs initial pact to develop Sudan’s Red Sea port – The National

A consortium led by AD Ports Group and Abu Dhabi-listed Invictus Investment has signed an initial pact with Sudan for the sole right to develop, manage and operate port and economic zone assets in the North African country.

Under the agreement, the consortium will have the right to create joint ventures, partnerships, or other agreements to support the financing, development, construction, management and operation of the projects, the companies said in a joint statement on Tuesday.

They did not provide a value for the preliminary pact.