New agreement provides consortium the right to develop and operate port assets in Sudan
A consortium led by AD Ports Group and Invictus Investment recently signed a Heads of Terms agreement with the Government of the Republic of Sudan that provides them with the right to develop, manage, and operate port and economic zone assets in Sudan.
Under the terms of the agreement, the consortium will have the sole right to directly develop, manage, and operate specified port and economic zones assets and to create joint ventures, partnerships, or other business agreements to support the financing, development, construction, management, and operation of the projects.
“We look forward to working with the Government of Sudan on the development and management of key facilities,” stated Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.
“Invictus Investment is proud to be part of the consortium selected by the Government of Sudan for this important agreement,” remarked Osama Daoud Abdellatif, Chairman, Invictus Investment Company.