UAE group keen to develop deep-sea port in Bangladesh

http://www.newagebd.com/2008/oct/24/busi.html#4

UAE group keen to develop deep-sea port in Bangladesh
Kazi Azizul Islam . Abu Dhabi

A top investment and industrial group of United Arab Emirates is interested in developing and operating a modern deep-sea port in Bangladesh.

The UAE group will prefer invitation from Bangladesh government for developing the sea-port, CEO of the group said.

The chief executive officer of Ras Al Khaimah Investment Authority, Khater Massaad, said they were operating two ports in the UAE, one in Georgia and developing one in Andrapradesh of India.

‘We are very much interested to develop and operate a modern deep-sea port in Bangladesh,’ said Massaad while talking to New Age correspondent at his office in UAE.

He told New Age that their company could put $2-3 billion on developing a deep-sea port in Bangladesh.

Massaad claimed that RAKIA was the largest investor from the Middle East in Bangladesh, owning a ceramic tiles and sanitary ware manufacturing plants, and a pharmaceutical factory, which would be opened next month.

The company, few months back, also proposed to invest over $1 billion in hotel, tourism and real-estate sectors in Dhaka and Cox’s Bazar.

‘We will complete within two months feasibility studies on our earlier proposals, which include two 5-star hotels – one in Dhaka and one in Cox’s Bazar,’ said Massaad.

Constituted in 2005, RAKIA is headed by crown prince Sheikh Saqr Bin Mohammed Al Qassimi, supreme council member and ruler of the Ras Al Khaimah.

RAKIA manages diversified business ventures including, ceramics, cement, steel, real-estates and tourism, airlines, and financial institutions.

It started operation in Bangladesh 13 years back with RAK Ceramics, a big tiles and sanitary ware manufacturer in Bangladesh.

Massaad said the existing investment climate in Bangladesh was good and the incentives for foreign investors were also encouraging.