Saudi Arabian Red Sea Gateway Terminal (RSGT) has shown its interest to invest in Bangladesh’s under construction Patenga Container Terminal which is expected to start handling boxes early next year.
Last week Saudi Transport Minister Saleh bin Nasser Al-Jasser submitted a proposal to Bangladesh’s Prime Minister’s private sector Adviser Salman F Rahman in this regard when they met in Saudia Arabia.
The Bangladeshi adviser has welcomed Saudi’s proposal over RSGT’s investment. A government-to-government deal to pave way for Saudi’s investment in Bangladesh’s various sectors, including in ports, is expected to be completed in a week.
If awarded a contract, the Red Sea Gateway will bring modern equipment and operate Chittagong port’s Patenga Container Terminal for the next 30 years.
Bangladesh has also proposed to Saudi Arabia that it wants to set up special economic zones exclusively for Saudi Arabian businessmen.
The cabinet committee on economic affairs early this year approved US$58 million for buying equipment, operation, and maintenance of the Patenga Container Terminal, while the Bangladesh Army is building the terminal on approximately 130m² of land at a cost of US$240 million.
The 600-metre-long box terminal will have an annual capacity of 450,000TEU and will be able to handle vessels up to 10.5 meters. Three boxships of 190-metre length and a 220-metre long oil tanker will be able to take berth at the terminal at a time which will also have a storing capacity of 4,500TEU.