Finance
Bangladesh-Saudi Arabia Agreement signed with Saudi Arabia regarding Patenga container terminal operation
Dhaka, Dec 7: Chittagong Port Authority (CPA) has signed a 'Concession Agreement' with Saudi Arabian company 'Red Sea Gateway Terminal (RSGT)' to operate the newly constructed Patenga Container Terminal for the next 22 years on PPP-G2G basis.
Prime Minister Sheikh Hasina and Saudi Investment Minister Khalid Al-Falih witnessed the agreement signing ceremony at the Prime Minister's Office on Wednesday. Chittagong Port Authority Chairman Rear Admiral Mohammad Sohail and RSGT CEO Jins O. Foley signed the agreement. Earlier, the Saudi minister paid a courtesy call on the Prime Minister of Bangladesh at his office.
'RSGT' is an international terminal operator representing a partnership with a Malaysian mining company. The combined assets, management capabilities and experience have made RSGT one of the 10 largest container terminal operators worldwide. It has a combined annual container handling capacity of 20 million and the terminal has a throughput capacity of 10 million containers.
Bangladesh has a stable government and a good record of economic growth. For this reason, in May this year in Doha, Saudi Arabia proposed large-scale investment in various sectors of Bangladesh. Prime Minister's Private Industry and Investment Adviser Salman Fazlur Rahman, Saudi Investment Minister Khalid A Al-Falih, RSGT Chairman Amer A Alireza spoke on the occasion and State Minister for Shipping Khalid Mahmud Chowdhury Uddhodhani spoke. The event was attended by Saudi and Bangladeshi businessmen besides Isa bin Yusuf Al Duhailan, the ambassador of Saudi Arabia to Bangladesh.
