The Sudanese government has signed an agreement with a Saudi Arabian firm to establish an aviation company with a capital of $500 million, a press report said on Friday.
Al-Anbaa newspaper said that the Saudi Khuzah Investment and Financial Consultancy Company, which signed the agreement here on Thursday, would contribute 60% of the capital, and the Sudanese government would pay the remaining 40%.
The Company, a partnership between Khuzah and the Sudanese Ministry of Aviation, will modernize Khartoum Airport and other Sudanese airports, and will bring 15 new passenger planes into operation in three months’ time.
The Saudi Company also signed a memorandum of understanding with the Sudanese government and two private Sudanese firms to establish a sugar venture with capital of $137 million. Khuzah will hold a 50% stake, while Al-Wifaq Agricultural Company will hold 25%, Al-Basatah and Masarrat company 15%, and the Sudanese government the remaining 10% of shares of the Blue Nile Sugar Company. The Company, whose headquarters are based in Sennar town, will produce 250,000 tons of sugar annually, Al-Anbaa said.
Source: SPA
