DHAKA: Saudi developer Red Sea Gateway Terminal has announced plans to invest up to $1 billion in Bangladesh’s logistics sector, as it launched full-capacity operations at the country’s largest port in Chittagong.
Chittagong Port is the main gateway for Bangladesh’s ocean cargo import and export, and the busiest container port on the Bay of Bengal.
RSGT has been running the port’s Patenga Container Terminal since June 2024, under a 22-year agreement with the Chittagong Port Authority.
After two years preparing the site’s infrastructure with an investment of $170 million, the company last month installed the final major pieces of equipment needed to scale up its presence.
“This project reflects a strong belief in Bangladesh’s continued growth and the strategic importance of the regional and global trade. Our investment of $170 million demonstrates our commitment to supporting the country’s maritime infrastructure, improving operational efficiency and enhancing Bangladesh competitiveness as a regional logistic gateway to the world,” Lars Vang Christensen, group CEO and chairman of RSGT Bangladesh, said during the RSGT Bangladesh Terminal opening ceremony in Dhaka on Tuesday evening.
