Saudi terminal operator said to invest in Bangladesh’s port sector

The Red Sea Gateway Terminal (RSGT), a Saudi terminal operator, is planning to invest in Bangladesh’s port development sector, Arab News reported.

The RSGT recently signed a memorandum of understanding (MoU) with Bangladesh’s shipping ministry to support the port sector.

“We signed a non-binding MoU with the RSGT. It covered the broader perspective of future investment and cooperation areas,” said Rafiq Ahmed Siddiky, a joint secretary at Bangladesh’s shipping ministry.

“Both parties will now work intensively to pinpoint the investment areas. The project will be on a public-private partnerships basis,” he added.

According to the MoU, the RSGT will invest in the bay terminal development at Chattogram Port, which handles nearly 80 percent of the country’s maritime trade activity. Last year, the port handled around three million 20-feet equivalent units and about 3,700 vessel calls.

The RSGT also expressed an interest in developing new container services at the inland container depot at Pubail, in the Gazipur district of Dhaka, and the infrastructure and technical expertise for two other ports: Mongla and Payra, the report said.