Arab investors from the GCC and Middle East set up USD 75 million Bank in Sudan
Monday, July 19, 2004 at 08:03PM
TheSpook
A group of GCC and Middle Eastern investors today
announced a joint venture with government organisations in Sudan to set
up the Al Salam Bank in Khartoum with an estimated capital of USD75
million.The investment atmosphere in Sudan has witnessed huge
developments in the recent past, especially after the discovery of the
new petroleum deposits in the country. The new oil wells will
contribute greatly to Sudan's oil production, which is expected to
reach half a million barrels per day (bpd). The discovery of oil has
also solved the south's problem of attracting foreign direct investment
to the petroleum, metal and agricultural sectors which are considered
the biggest production sectors in Sudan. [more]
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