Forum discusses ‘vast areas’ in Sudan for investing in minerals

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Dr. Mohammed Abu Fatima Abdallah, general manager of the Sudanese Ministry of Geological Research Authority (GRAS), left, and Saudi Vice Minister of Mining Affairs for MEIMR, Eng. Khalid Al-Mudaifer are seen touring exhibit stands in forum. (AN photo by Huda Bashatah)
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Sulaiman Al-Othaim, Saudi Gold Refinery Company Ltd., center, moderating a panel discussion on "mineral potentials and investment opportunities" with Dr. Mohammed Abu Fatima Abdallah, general manager of the Sudanese Ministry of Geological Research Authority (GRAS), right, and Eng. Mujahid Bilal Taha. (AN photo by Huda Bashatah)
Updated 11 September 2018
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Forum discusses ‘vast areas’ in Sudan for investing in minerals

  • The Ministry of Energy, Industry and Mineral Resources (MEIMR) held a forum to discuss investment opportunities for mineral resources in “vast areas” of Sudan
  • Among those attending from MEIMR at the Republic of Sudan Hilton hotel in Jeddah’s corniche was the Vice Minister of Mining Affairs for MEIMR

JEDDAH: The Ministry of Energy, Industry and Mineral Resources (MEIMR) held a forum to discuss investment opportunities for mineral resources in “vast areas” of Sudan.
Among those attending from MEIMR at the Republic of Sudan Hilton hotel in Jeddah’s corniche was the Vice Minister of Mining Affairs for MEIMR, Eng. Khalid Al-Mudaifer, and Dr. Mohammed Abu Fatima Abdallah, general manager of the Ministry of Geological Research Authority (GRAS).
Deputy Minister for Mineral Resources Sultan Shaouli explained that the program includes three working sessions, all of which talk about the mineral potential in Sudan and the opportunities available. The forum had six reports, all of which are suitable for officials in the Ministry of Metals and a number of Sudanese mining companies.
Abdallah said the forum is an extension of joint strategic action between Sudan and Saudi Arabia. He pointed out that Sudan enjoys the existence of natural resources and a large number of minerals with estimated reserves and the State has developed plans to exploit this wealth to benefit the desired government and the people of Sudan.
During a tour of the exhibit stands, Al-Mudaifer told Arab News that the role of the governments, along with the private sector, is to enable and build an ecosystem that enables the private sector to partake in these investments for exploration, development and production. “This is our main role now and we are helping the Sudanese government to showcase their resources and their geology, and hopefully the investor to invest in Sudan,” he added.
Abdallah told Arab News that he saw big potential in investment in Sudan, with resources that have not been touched: “We have vast areas that need exploration. According to the geological situation and environment we have huge amounts of resources to find and we want to share it with our neighbors, particularly Saudi Arabia. They have a good capacity and benchmark for exploration.”


Crown prince: Saudi investment in India to reach $100bn

Updated 30 min 1 sec ago
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Crown prince: Saudi investment in India to reach $100bn

  • Mohammed bin Salman says value of investments to increase rapidly over next two years
  • Modi praised relations between the two countries after signing cooperation agreements

DUBAI: Crown Prince Mohammed bin Salman said on Wednesday he expects Saudi Arabia’s investments in India will be worth $100 billion in the next two years.

During a press conference with India’s Prime Minister Narendra Modi, the crown prince said the Kingdom had invested $10 billion in technology and small companies in India which had “achieved very remarkable returns.”

Speaking on the second day of hist India visit, and after the signing of five agreements with Modi, the crown prince also said that there were many opportunities for India in Saudi Arabia.

“We expect that the opportunity we are developing in India in many fields will exceed 100 billion dollars over the next two years,” Prince Mohammed said. “We want to work as two governments to ensure these investments and achieve beneficial returns for both countries. 

“We also hope that relations between the Kingdom of Saudi Arabia and India will contribute to providing more opportunities for Indian laborers and manpower to contribute to the future of the Kingdom of Saudi Arabia and building the Kingdom's Vision 2030.”

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The crown prince spoke of the depth and history of relations between the two countries, acknowledging the role Indian labor and businesses had played in the Kingdom’s development.

He also said the economic partnerships were grounded in the two nation’s similar challenges - “extremism, terrorism and the security of the Indian Ocean.”

He said Modi’s visit to the Kingdom in 2016 had achieved investments worth $44 billion in refining and petrochemicals.

The two countries planned to expand India’s oil storage capacity to make India an “important regional center in distributing oil and its products.”

"As a neighbor who guarantees suppying us with energy needs, the Kingdom is considered India's most important partner," Modi said. "We have enhanced our relations through establishing a strategic partnership."

The crown prince and Modi earlier oversaw the signing of agreements in the fields of investment, tourism, housing and information and broadcasting.

It was also announced that the Kingdom would join the International Solar Alliance, a group of countries focussed on improving solar technology.

Prince Mohammed then met a number of CEOs from India's leading businesses.

The crown prince arrived in India after a two-day trip to Pakistan as part of a tour of Asia.

Earlier he attended a ceremonial welcome in New Delhi after landing in the country on Tuesday evening.