Saudi terminal operator RSGT to invest in Bangladesh’s port sector

International ships anchored at Chottogram port waiting to deliver the containers. (Photo/Supplied)
Updated 23 August 2019
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Saudi terminal operator RSGT to invest in Bangladesh’s port sector

  • The RSGT recently signed a memorandum of understanding (MoU) with Bangladesh’s shipping ministry to support the sector

DHAKA, Bangladesh: The Red Sea Gateway Terminal (RSGT), a leading Saudi terminal operator, is keen to invest in Bangladesh’s port development sector.

The RSGT recently signed a memorandum of understanding (MoU) with Bangladesh’s shipping ministry to support the sector.

Gagan Seksaria, director of global investments at the RSGT and Abdus Samad, secretary to Bangladesh’s shipping ministry, signed the MoU on behalf of the concerned parties.

According to the MoU, the RSGT will invest in the bay terminal development at Chattogram Port, which handles nearly 80 percent of the country’s maritime trade activity. Last year, the port handled around 3  million 20-feet equivalent units and about 3,700 vessel calls.

The RSGT also expressed an interest in developing new container services at the inland container depot at Pubail, in the Gazipur district of Dhaka, and the infrastructure and technical expertise for two other ports: Mongla and Payra.

“We signed a nonbinding MoU with the RSGT. It covered the broader perspective of future investment and cooperation areas,” said Rafiq Ahmed Siddiky, a joint secretary at Bangladesh’s shipping ministry. 

“Both parties will now work intensively to pinpoint the investment areas. The project will be on a public-private partnerships basis,” he added. 

The RSGT will now share its detailed proposal with Dhaka. 

According to sources in the shipping ministry, Bangladesh is keen to expand its port capacity as the economy grows. The Cabinet committee on economic affairs approved the development proposal during its meeting last month.

However, it will take a few months for the parties to finalize the working purview.

“The RSGT proposal may involve an investment upwards of $3.5 billion (SR13 billion) as the port development is a huge and complex task. We can expect to finalize the formalities by the end of this year,” Kazi Aminul Islam, executive chairman of the Bangladesh Investment Development Authority told Arab News. 

He added that there are other international companies considering investment.

“We have developed our road infrastructure and expanded connectivity across the country in line with rising trade volume. Now we need to increase the capacity of the ports,” Islam said.


New Murabba seeks contractors for Mukaab Towers fit-outs: MEED

Updated 28 January 2026
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New Murabba seeks contractors for Mukaab Towers fit-outs: MEED

RIYADH: Saudi Arabia’s New Murabba Development Co., a wholly owned subsidiary of the Public Investment Fund, has issued a request for information to gauge the market for modular and offsite fit-out solutions for its flagship Mukaab development, MEED reported on Wednesday.

The RFI was released on Jan. 26, with submissions due by Feb. 11. NMDC has also scheduled a market engagement meeting during the first week of February to discuss potential solutions with prospective contractors.

Sources close to the project told MEED that NMDC is “seeking experienced suppliers and contractors to advise on the feasibility, constraints, and execution strategy for using non-load-bearing modular systems for the four corner towers framing the Mukaab structure.” The feedback gathered from these discussions will be incorporated into later design and procurement decisions.

The four towers — two residential (North and South) and two mixed-use (East and West) — are integral to the Mukaab’s architectural layout. Each tower is expected to rise approximately 375 meters and span over 80 stories. Key modular elements under consideration include bathroom pods, kitchen pods, dressing room modules, panelized steel partition systems, and other offsite-manufactured fit-out solutions.

Early works on the Mukaab were completed last year, with NMDC preparing to award the estimated $1 billion contract for the main raft works. This was highlighted in a presentation by NMDC’s chief project delivery officer on Sept. 9, 2025, during the Future Projects Forum in Riyadh.

Earlier this month, US-based Parsons Corp. was awarded a contract by NMDC to provide design and construction technical support. Parsons will act as the lead design consultant for infrastructure, delivering services covering public buildings, infrastructure, landscaping, and the public realm at New Murabba. The firm will also support the development of the project’s downtown experience, which spans 14 million sq. meters of residential, workplace, and entertainment space.

The Parsons contract follows NMDC’s October 2025 agreements with three other US-based engineering firms for design work across the development. New York-headquartered Kohn Pedersen Fox was appointed to lead early design for the first residential community, while Aecom and Jacobs were selected as lead design consultants for the Mukaab district.

In August 2025, NMDC signed a memorandum of understanding with Falcons Creative Group, another US-based firm, to develop the creative vision and immersive experiences for the Mukaab project. Meanwhile, Beijing-based China Harbour Engineering Co. completed the excavation works for the Mukaab, and UAE-headquartered HSSG Foundation Contracting executed the foundation works.