The Chittagong Port Authority in Bangladesh on Wednesday inked a concession agreement with the Saudi Arabia’s company Red Sea Gateway Terminal to operate the newly built Patenga Container Terminal on PPP-G2G basis for next 22 years.
Prime minister Sheikh Hasina and Saudi investment minister Khalid A Al-Falih witnessed the signing ceremony at the prime minister’s office here as CPA chairman Rear Admiral Mohammad Sohail and CEO of RSGT Jeans O Foley inked the agreement.
The Saudi minister earlier paid a courtesy call on the Bangladesh prime minister at her office.
The RSGT is an international terminal operator representing a partnership with the Malaysian Mining Company.
The combined assets, handling capacity and experience turned the RSGT to one of the 10 largest container terminal operators globally, with a combined annual handling capacity of 20 million TEUs, and equity-weighted throughput of over 10 million TEUS.
In May this year in Doha, Saudi Arabia offered to make large scale investments in various sectors of Bangladesh as the country has a stable government and good record of economic growth.
PM’s private industry and investment adviser Salman Fazlur Rahman, Saudi investment minister Khalid Al Falih and chairman of the RSGT Aamer A Alireza spoke at the function as state minister for shipping Khalid Mahmud Chowdhury delivered the opening remarks.
