DHAKA, Dec 05, 2023 (BSS) - An agreement is scheduled to be inked tomorrow between the Chittagong Port Authority (CPA) and the Red Sea Gateway Terminal International (RSGT), a Saudi company, to manage and operate the Patenga Container Terminal.

Prime Minister Sheikh Hasina and Saudi Investment Minister Khalid A Al-Falih will witness the signing ceremony scheduled to be held at the Prime Minister's Office.

The Saudi Investment Minister will arrive in Dhaka tonight, said a press release.

Prime Minister's Private Industry and Investment Adviser Salman F Rahman will also be ptresent at the signing event.

Before tomorrow's signing event, the Saudi Minister will have a courtesy meeting with the Prime Minister at her office.

RSGT is an international terminal operator representing a partnership between the Red Sea Gateway Terminal of Saudi Arabia and the Malaysian Mining Company (MMC).

The combined assets, handling capacity and experience place the terminal operations among the 10 largest container terminal operators globally, with a combined annual handling capacity of 20 million TEUs, and equity-weighted throughput of over 10 million TEUS.

In May this year in Doha, Saudi Arabia offered to make large scale investments in various sectors of Bangladesh as the country has a stable government and good record of economic growth.

Talking to BSS, CPA Chairman Rear Admiral Mohammad Sohail said the agreement will increase the cargo handling capacity of the port which will enhance trade with other countries.