Saudi port operator to develop Bangladesh terminal
- Date: 07-Dec-2023
- Source: AGBI
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi port operator to develop Bangladesh terminal
Saudi company Red Sea Gateway Terminal International Limited (RSGTI) has signed a 22-year concession to develop a container terminal at Bangladesh’s primary port in a deal worth $170 million. RSGTI, a subsidiary of the Sustained Infrastructure Holding Company (Sisco), signed the deal with the Chittagong Port Authority to develop Patenga Container Terminal. In a filing […]
$170m deal for Chittagong Port
Concession for 22 years
RSGTI in talks with other ports
Saudi company Red Sea Gateway Terminal International Limited (RSGTI) has signed a 22-year concession to develop a container terminal at Bangladesh’s primary port in a deal worth $170 million.
RSGTI, a subsidiary of the Sustained Infrastructure Holding Company (Sisco), signed the deal with the Chittagong Port Authority to develop Patenga Container Terminal.
In a filing to the Saudi Stock Exchange, the company revealed it is in “advanced negotiations” with several other international ports to expand its project pipeline.
Maharashtra port next on list for DP World
Shipping industry calls for ‘fair access’ to clean fuel
Capacity at Middle East ports set to outstrip demand
Under the Bangladesh concession agreement, RSGTI will develop and operate a 500,000-twenty-foot equivalent unit facility.
The terminal, which currently features a 580-metre quay, will be equipped with new technologies to handle the fast-growing export market, the