Saudi Arabia’s RSGT to operate major terminal in Bangladesh’s largest port

Saudi Investment Minister Khalid Al-Falih and Bangladesh PM Sheikh Hasina witness the signing ceremony between Red Sea Gateway Terminal and Chittagong PA, Dhaka, Dec. 6, 2023. (AN Photo)
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Updated 06 December 2023
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Saudi Arabia’s RSGT to operate major terminal in Bangladesh’s largest port

  • RSGT will operate Patenga Container Terminal in Chittagong Port for 22 years
  • Project marks beginning of larger Saudi presence in Bangladesh, minister says

DHAKA: Saudi port developer Red Sea Gateway Terminal on Wednesday signed a concession agreement with the Bangladeshi government to manage and operate a newly built terminal in the country’s largest port.

Bangladesh Prime Minister Sheikh Hasina and Saudi Investment Minister Khalid Al-Falih witnessed the signing ceremony between RSGT and the Chittagong Port Authority at the premier’s office in Dhaka, marking the beginning of a 22-year agreement struck under the public private partnership and G2G format.

The $240 million Patenga Container Terminal, which finished construction earlier this year, is a “lighthouse of hopes for the economic development of Bangladesh,” Hasina said at the ceremony.

“This automated modern terminal will further strengthen the capacity of our ports. In addition, it will facilitate foreign trade, create employment and facilitate the ways of new entrepreneurs … it will work as a gateway to world trade and open new opportunities for the expansion of our trade and establishing connectivity with the world,” she said.

RSGT will be the first foreign company operating Bangladeshi ports, as Dhaka banks on the company’s technological expertise and ports management experience.

“Red Sea Gateway Terminal International is a renowned global terminal operator nominated by the Saudi government,” Hasina said. “With the goodwill RSGTI is operating the Jeddah port along with other ports, they will apply the same expertise, technology and work processes in operating our Patenga Container Terminal. It will open a new door for our country. Our people will also be trained in this process.”

Chittagong Port is the busiest container port on the Bay of Bengal, which handled about 3.2 million 20-foot equivalent units in the 2021 fiscal year and served as the main gateway for Bangladesh’s ocean cargo import and export. This included products from its garment sector, which accounts for 80 percent of the country’s exports and 11 percent of its gross domestic product.

The Patenga Container Terminal, which will be handed over to RSGT next month, is expected to have an annual capacity of 500,000 TEU, or twenty foot equivalent container units.

The signing on Wednesday is the beginning of a “new chapter in our very friendly relationship,” Al-Falih said at the signing ceremony, adding that Bangladesh holds a “special place” in Saudi Arabia that makes the Kingdom keen on continuing its support of the South Asian country’s development.

“Today’s signing of the investment agreement for the Red Sea Gateway company project in Patenga, this award represents, in my opinion, an anchor, economic connection between our two countries, and one of the most important sectors establishing a strong economic relationship, which is logistics,” Al-Falih said.

 “For us, Patenga also symbolizes the importance of logistics as an enabler for other sectors,” he said. “This project, this decision, is a small nucleus that we hope will grow into a large vibrant cluster of Saudi presence here in Bangladesh.”


Trump says Greenland will ‘work out’ after Denmark fails to bridge gap

Updated 14 sec ago
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Trump says Greenland will ‘work out’ after Denmark fails to bridge gap

  • Trump has appeared emboldened on Greenland — which he views as in the US backyard — since ordering a deadly January 3 attack in Venezuela that removed president Nicolas Maduro

WASHINGTON, United States: US President Donald Trump held open the possibility Wednesday for a resolution on his designs over Greenland after Denmark’s top diplomat said he failed to change the administration’s mind on wanting to conquer the island.
The foreign ministers of Denmark and Greenland, an autonomous territory under Copenhagen’s sovereignty, met at the White House with Vice President JD Vance and Secretary of State Marco Rubio in a meeting the visitors had requested to clear up “misunderstandings” after Trump’s bellicose language toward the fellow NATO member.
Trump, speaking after the meeting which he did not attend, for the first time sounded conciliatory on Greenland, acknowledging Denmark’s interests even if he again said he was not ruling out any options.
“I have a very good relationship with Denmark, and we’ll see how it all works out. I think something will work out,” Trump said without explaining further.
He again said Denmark was powerless if Russia or China wanted to occupy Greenland, but added: “There’s everything we can do.”
Danish Foreign Minister Lars Lokke Rasmussen, speaking after leaving the White House, said a US takeover of Greenland was “absolutely not necessary.”
“We didn’t manage to change the American position. It’s clear that the president has this wish of conquering over Greenland,” Lokke told reporters.
“We therefore still have a fundamental disagreement, but we also agree to disagree.”
He said the issue was “very emotional” for the people of Greenland and Denmark, a steadfast US ally whose troops died alongside Americans in Afghanistan and, controversially, Iraq.
“Ideas that would not respect territorial integrity of the Kingdom of Denmark and the right of self-determination of the Greenlandic people are, of course, totally unacceptable,” Lokke said.
He nonetheless said the tone was “constructive” and said the sides would form a committee that would meet within weeks to see if there was possible headway.
Referring to the British prime minister who trumpeted his diplomacy with Hitler, Lokke said, “I am not a Chamberlain to say “Peace for our time,” but we must seize the opportunities that present themselves.”

Mocking tone

While the talks were underway, the White House posted on X: “Which way, Greenland man?“
The post included a drawing of two dogsleds — one heading toward the White House and a huge US flag, and the other toward Chinese and Russian flags over a lightning-bathed Kremlin and Great Wall of China.
Neither country has claimed Greenland, and Lokke said no Chinese ship had been spotted there in a decade and that there were no major Chinese investments.
Denmark promised ahead of the meeting to ramp up its military presence further in the vast, sparsely populated and strategically located island.
Trump has derided recent Danish efforts to increase security for Greenland as amounting to “two dogsleds.” Denmark says it has invested almost $14 billion in Arctic security.
Denmark also announced immediate military exercises that will include aircraft, vessels and soldiers, with Sweden also participating.
In another show of solidarity with Denmark following Trump’s threats, Germany and France both said Wednesday they will send troops to Greenland. German’s defense ministry said it would send a 13-person team.

Signs of relief

On the quiet streets of the capital Nuuk, red and white Greenlandic flags flew in shop windows, on apartment balconies, and on cars and buses, in a show of national unity during the talks.
Ivaana Egede Larsen, 43, said she felt relief that the meeting appeared to be cordial.
“I am more calm now, and I feel more safe. I had felt very much unsafe lately,” she said.
In Copenhagen, Thomas Fallesen, 56, voiced similar sentiments.
“They are now at least talking together instead of talking through the press. I think it’s a very positive thing,” he said.
Vance, who slammed Denmark as a “bad ally” during an uninvited visit to Greenland last year, is known for a hard edge, which was on display when he publicly berated Ukrainian President Volodymyr Zelensky in the Oval Office last February.
Wednesday’s meeting, however, was closed to the press, meaning there was no on-camera confrontation.
Trump has appeared emboldened on Greenland — which he views as in the US backyard — since ordering a deadly January 3 attack in Venezuela that removed president Nicolas Maduro.