Abu Dhabi Ports Group and Masdar, two UAE corporations, have announced plans to engage in Bangladesh’s port development, management, and logistics as well as the renewable energy industry. The investment plans were presented to Chief Adviser Professor Muhammad Yunus by Fatima Almadhloum Alsuwaidi, Head of Development & Investment, Asia-Pacific Region, Masdar, and Ahmad Ibrahim Al Mutawa, CEO of Abu Dhabi Ports Group (ADPG).
After DP World of the United Arab Emirates, AP Moller Maersk of Denmark, and Red Sea Gateway Terminal of Saudi Arabia, Abu Dhabi Ports Group is the fourth major port handler and logistics company to show interest in Bangladesh’s port management in less than a week.
By funding, running, and maintaining container and multipurpose terminals and facilities in a joint venture with the Chittagong Port Authority, Abu Dhabi Ports Group has indicated interest in building one of the three Bay Terminals that have been suggested. Al Mutawa, the group’s CEO, expressed gratitude to the Bangladeshi government for their hospitable attitude and expressed hope that the investment will boost ship traffic in Bangladeshi ports. Masdar, a renewable energy business, suggested investing US$500 million to build a 250 megawatt solar power facility on reclaimed coastal property.
