Concession agreement signed to operate USD240 million Container Terminal in Bangladesh
Saudi port developer Red Sea Gateway Terminal (RSGT) signed a concession agreement with the Bangladeshi government to manage and operate the Patenga Container Terminal in Chittagong, Bangladesh.
Chittagong Port, the most active container port along the Bay of Bengal, managed approximately 3.2 million, or 20-foot equivalent units. It serves as Bangladesh's primary maritime gateway for both import and export activities. This includes shipments from the nation's dominant garment sector, contributing to 80% of its exports and 11% of its gross domestic product. The Patenga Container Terminal, set to be transferred to RSGT under a 22-year agreement, is anticipated to boast an annual capacity of 500,000 TEU (twenty-foot equivalent container units).
RSGT is an international terminal operator representing a partnership between the Red Sea Gateway Terminal of Saudi Arabia and the Malaysian Mining Company (MMC).
With an equity-weighted throughput of over 10 million TEUS and a combined yearly handling capacity of 20 million TEUs, the terminal operations are among the top 10 largest container terminal operators in the world based on their combined assets, handling capacity, and experience.
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