DP World to invest $1.0b in BD

DP World, a Dubai-based multinational logistics company, will invest $1.0 billion in Bangladesh's supply chain infrastructure, including ports, rail network and inland container terminals, reports UNB.
This is within the scope of the government-to-government agreement entered into in 2019 for public-private participation on infrastructure projects, said a press release of the company on Tuesday.
The assurance came when a high-level delegation of the Bangladesh government led by State Minister for Shipping Khalid Mahmud Chowdhury, visited Jebel Ali Free Zone and the Jebel Ali Port in Dubai on November 21-23.
The delegation included Sultana Afroz, secretary and chief executive officer for Public-Private Partnership Authority, Mohammed Mezbah Uddin Chowdhury, secretary, Ministry of Shipping, and Rear Admiral M Shahjahan, chairman of Chittagong Port Authority and other senior government officials.
During the tour, they also visited the DP World Pavilion at the Expo 2020 Dubai.
The visit represents a key step in reinforcing DP World's commitment to partner with the government of Bangladesh in enhancing its supply chain infrastructure and processes, it said.
The delegation met Sultan Ahmed bin Sulayem, group chairman and CEO of DP World, Mohammed Al Muallem, executive vice president - Office of the Chairman DP World, and Rizwan Soomar, CEO and managing director, DP World Subcontinent, and other DP World officials.
The delegation was also briefed on DP World's range of products and services, which covers every link of the integrated supply chain - from maritime and inland terminals to marine services and industrial parks, as well as technology-driven customer solutions.
The delegation members witnessed a demonstration of BoxBay, the new intelligent High Bay Storage (HBS) system, toured the Jebel Ali Free Zone and visited the DP World Cruise Terminal.
Visitors to the five-floor DP World Flow pavilion, which has four main galleries, have an opportunity to explore the movement of commerce around the world that drives the global economy, giving a unique insight into the innovative technology of supply chains.
The pavilion's FlowLive event programme brings together leaders of governments and commerce to shape the future of world trade, while its education programme seeks to inspire young people to join the logistics industry.