Saudi company expresses interest in billion-dollar investment in Bangladesh

A high-level Saudi delegation visited Bangladesh, signaling strong interest in significant investment across key infrastructure sectors. The meeting, held at the Prime Minister's Office, included Rumaih bin Mohammed Al-Rumaih, Saudi Vice Minister of Transport and Logistic Services, and executives from Red Sea Gateway Terminal International.

During discussions with Prime Minister Tarique Rahman, the Saudi delegation conveyed a commitment to strengthening bilateral ties and expanding cooperation in infrastructure development. Red Sea Gateway Terminal International specifically expressed its intent to invest $180 million in constructing a Bay Terminal in Bangladesh. Furthermore, the company aims to scale up its existing investment in Bangladesh's port management to a total of $1 billion.

The delegation also indicated that various Saudi entities are eager to invest in other sectors within Bangladesh. They noted that they have already assessed investment opportunities in areas such as ports and railways. The Prime Minister briefed the Saudi representatives on his government's investment-friendly policies and initiatives, encouraging further engagement.

Both sides agreed that detailed discussions on these investment proposals could take place in subsequent joint meetings. Prime Minister Rahman thanked the Saudi delegation for their visit and expressed optimism about the potential investments. The Saudi delegation reciprocated by expressing their eagerness to welcome the Prime Minister to Saudi Arabia in the future. Officials from both countries, including Bangladesh's Minister of Road Transport and Bridges and Saudi Arabia's Ambassador to Bangladesh, were present at the meeting.