AD Ports Group, Invictus Consortium sign agreement with Sudan

A consortium led by Abu Dhabi-based AD Ports Group and Invictus Investment has signed a Heads of Terms agreement with the Government of the Republic of Sudan.

As part of the agreement, the consortium will have the sole right to develop, manage, and operate specified ports and economic zones in Sudan.

Additionally, it will be able to enter into joint ventures, partnerships, or other business agreements to support financing, development, construction, management, and operation of the projects.

It follows an earlier agreement between AD Ports Group and Invictus Investment to launch a new international dry bulk shipping service to serve Invictus’ dry-bulk trading business, which is a major transporter of commodities to and from Sudan.

“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,” commented Capt Mohamed Juma Al Shamisi, managing director and group CEO, AD Ports Group.

Together with Invictus Investment, we have signed a Heads of Terms agreement with the Government of the Republic of Sudan that provides us with the rights to develop, manage and operate port and economic zone assets in Sudan. Learn more: https://t.co/zYpw41k4nk pic.twitter.com/l18nUtwHnZ

— AD Ports Group (@ADPortsGroup) December 13, 2022

“We are grateful and honoured by the trust that the government of Sudan has placed in our consortium by signing this agreement and we look forward to working with them on the development and management of key facilities.”

“Invictus Investment is proud to be part of the consortium selected by the Government of the Republic of Sudan for this important agreement,” added Osama Daoud Abdellatif, chairman of Invictus Investment Company.

“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.”

The Republic of Sudan is a major trading partner of the UAE. During the last 25 years, exports from the UAE to Sudan have increased at an annualised rate of 14.6 per cent, from $37.8m in 1995 to $1.14bn in 2020, with key exports including raw sugar, jewellery and broadcasting equipment.

Meanwhile exports from Sudan to the UAE have increased at an annualised rate of 18.4 per cent, from $27.3m in 1995 to $1.86bn in 2020.

Read: UAE’s Agthia Group partners with AD Ports Group to enhance supply chain connectivity