Saudi port operator to develop Bangladesh terminal

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.

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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