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Bangladesh’s finance minister reportedly met with a senior-level Saudi Arabian delegation in Dhaka on 7 March in a bid to drum up Saudi investment for a multitude of projects worth $35bn (SAR131.3bn).
According to local news outlet United News of Bangladesh (UNB), a 35-member Saudi delegation comprising senior officials from Saudi Fund for Development and Public Investment Fund (PIF) – which is led by Saudi Arabia’s Crown Prince, Vice President of the Council of Ministers, and Minister of Defence, HRH Mohammed Bin Salman – met Bangladeshi officials in the Asian countrys capital city, Dhaka, early in March 2019.
Saudi companies also had representation in the delegation.
Following a Bangladesh-Saudi Arabia meeting on bilateral investment, Bangladesh’s finance minister, A H M Mustafa Kamal, reportedly outlined 17 projects that the kingdom was invited to invest in.
Projects seeking the kingdom’s investment, as reported by UNB, included a rail link from Bhanga to Pyata port, a high-speed rail link between Dhaka and Chattogram, a Saudi special economic zone in Mirsarai, and a urea-ammonia plant.
The visit also saw six deals signed between Bangladesh and Saudi at a ceremony in the offices of Prime Minister Sheikh Hasina.
They included an agreement for the construction of a 100 MW solar independent power project (IPP), inked by Saudi’s Alfanar Company and Electric Generation Company Bangladesh.
The latter’s managing director, Arun Kumar Saha, and vice president of sales and marketing at Alfanar, Khalid Bin Qabel Al Sulami, signed the contracts in the presence of Dr Majid Bin Abdullah Al Qasaibi, Saudi Arabia’s Trade and Investment Minister, and the kingdom’s Economy and Planning Minister, Mohammed Bin Mazyed Al-Twaijri.
Other agreements, as reported by UNB, included a memorandum of understanding (MoU) on setting up a urea formaldehyde-85 (UFC-85) plant; an MoU to establish the Saudi-Bangladesh Institute of Biomedical Engineering and Technology; and another related to the manufacturing transformer and electricity devices. |
