July 19, 2004

Arab investors from the GCC and Middle East set up USD 75 million Bank in Sudan

July 19, 2004/ Tron Nick

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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Arab investors from the GCC and Middle East set up USD 75 million Bank in Sudan

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