New Saudi Investments in Sudan’s Agriculture

Sudanese farmers prepare their land for agriculture on the banks of the river Nile in Khartoum. (Reuters)
Sudanese farmers prepare their land for agriculture on the banks of the river Nile in Khartoum. (Reuters)
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New Saudi Investments in Sudan’s Agriculture

Sudanese farmers prepare their land for agriculture on the banks of the river Nile in Khartoum. (Reuters)
Sudanese farmers prepare their land for agriculture on the banks of the river Nile in Khartoum. (Reuters)

Saudi Arabia and Sudan have launched a new agricultural partnership as part of the implementation of the Arab food security initiative.

High hopes are pinned on this initiative, in which Arab states would reduce annual expenses on importing food products, which exceeds billions of dollars. Sudan would also exploit its agricultural lands, measured at more than 200 million acres, of which only 20 percent are being used.

The Sudanese-Saudi partnership deal was signed Saturday in the northern River Nile region that boasts the agricultural investments of major Saudi companies.

Saudi Ambassador to Sudan Ali Hassan bin Jaafar said that Riyadh and Khartoum are seeking to develop agricultural work, attain benefits for Sudanese farmers and fulfill the needs of Arab citizens.

He spoke of the current program between their two countries aimed at building a strategic partnership that would serve as a model in developing Saudi-Sudanese ties in all fields.

A prominent Sudanese official pledged to resolve all difficulties facing Saudi investments in Sudan, provide more facilitations to prepare the suitable work environment for Saudi investors and attract additional investments.

Ochik Mohammed Ahmed Taher, Secretary-General of the National Investment Authority, stated that the authority will resolve all problems encountered by Saudi investors.

Jaafar had held several meetings in Sudan as part of Saudi efforts to expand investment in the country.

The ambassador had met with Taher, with both officials agreeing that Saudi investments should play a role in economic and social development in Sudan.



Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
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Vale Partners with China’s Jinnan Steel to Build Iron Ore Processing Plant in Oman

The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)
The logo of the Brucutu mine owned by Brazilian mining company Vale SA is seen in Sao Goncalo do Rio Abaixo, Brazil February 4, 2019. (Reuters)

Brazilian miner Vale, one of the world's largest iron ore producers, said on Monday it had partnered with China's Jinnan Steel Group to build an iron ore beneficiation plant in Oman to produce high quality pellet.

With the front-end investment exceeding $600 million, the plant, which will be located in Oman's Sohar port and free trade zone, will provide higher quality iron ore for producing pellet and hot briquetted iron (HBI) locally, reducing environmental impact, Vale said in a statement on its WeChat account.

The Sohar plant is scheduled to start commissioning in mid-2027, processing 18 million metric tons of iron ore annually to produce 12.6 million tons of high grade concentrate, it said.

"We are strengthening our capability to meet rising global demand for high grade iron ore and further expand our exposure in the Middle East region," said Gustavo Pimenta, chief executive officer (CEO) at Vale.

Vale will invest $227 million for the connection of the beneficiation plant and the pellet and HBI production facility while Jinnan Steel, a private steelmaker headquartered in north China's Shanxi province, will invest about $400 million for the building and the operation of the plant.

Vale did not disclose the equity share held by each party.