Iraq-backed Sudan farm venture suspended
Shafaq News – Baghdad
On Monday, the Iraqi Fund for External Development (IFED) said that one of its four agricultural ventures in Sudan has stopped operating.
In a statement, IFED identified the suspended project as the Arab Company for Agricultural Production and Manufacturing, which had a capital of about $125. No reason was given for the halt.
Iraq’s largest Sudanese holding is a 15% stake in the Arab Authority for Agricultural Investment and Development, valued at $112M out of more than $723M in total capital. The other investments are 4.6% in the Arab Poultry Production and Manufacturing Company, worth $30,000, and 12.5% in the Distinguished Company for Vegetable and Crop Production, valued at $2.5 of the firm’s $20 capital.
According to official data, Iraq holds shares in 30 companies across the Arab world.
