United News of Bangladesh

A high-level Saudi delegation on Wednesday met Prime Minister Tarique Rahman and expressed interest in investing up to US$1 billion in Bangladesh's ports, railways and other key infrastructure projects. The meeting took place at the Prime Minister’s Office in the Jatiya Sangsad Bhaban, said a press release issued by the PM’s Press Wing. The delegation was led by Saudi Arabia's Vice Minister for Transport and Logistic Services Dr Rumaih Mohammed Al-Rumaih. During the meeting, the two sides discussed Bangladesh-Saudi Arabia bilateral relations, investment opportunities and ways to expand cooperation in infrastructure development. Members of the delegation also expressed their commitment to further strengthening ties between the two countries. The Prime Minister said Bangladesh's long-standing friendly relations with Saudi Arabia are of great importance to his government. The delegation informed Tarique Rahman that Red Sea Gateway Terminal International is interested in investing $180 million to develop a Bay Terminal in Bangladesh and increasing its overall investment in the country's port sector to $1 billion. They also said Red Sea Gateway Terminal International and several other Saudi companies are keen to invest in various sectors in Bangladesh.