Red Sea Gateway Terminal plans a $1 billion investment in Bangladesh's logistics sector, enhancing operations at Chittagong Port.
Saudi operator 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 Chittagong Port, reported Jeddah's Arab News.
Chittagong is the country's main seaborne gateway and the busiest container hub on the Bay of Bengal. RSGT has managed the Patenga Container Terminal since June 2024 under a 22-year agreement with the Chittagong Port Authority.
The company has already invested $170 million to prepare infrastructure and last month completed the installation of major equipment. Group Chief Executive Lars Vang Christensen stated that the project reflects confidence in Bangladesh's growth and its strategic role in global trade.
RSGT is the first foreign operator at Bangladeshi ports. It expects to handle 400,000 TEU this year, which is about 12 percent of Chittagong's traffic, with projections to rise to more than 500,000 TEU in 2027, or 17 percent of the port's total.
Executive Chairman Aamer Abdullah Zainal Alireza emphasized that the company remains committed to investing in modern infrastructure, advanced logistics, and sustainable technologies to create jobs and long-term value. The Dhaka ceremony was attended by Finance Minister Amir Khasru Mahmud Chowdhury and Saudi Deputy Transport Minister Dr. Rumaih bin Mohammed Al-Rumaih.