BG procures 2 Ultra-Modern Dredgers Soon

Dhaka, October 25, 2010: The Bashundhara Group (BG), a leading industrial and business conglomerate in the country, under its relentless endeavors of business expansion, has decided to become a supporting force of the government in pacing up the government’s capital dredging project for the major rivers and the coastal belts. The BG in its latest bid to help the state retrieve safer navigability in the river ways under public private partnership (PPP), recently entered into an agreement of procuring another two heavy duty and ultra modern dredgers from a renowned manufacturer and supplier of digging apparatus in the United States of America. The dredgers are to be procured at an estimated cost of Taka 1400 million at the first phase and more procurement of the similar equipments may take place in the coming phases on the basis of need assessment. Investment Corporation of Bangladesh joins Bashundhara Group funding Taka 500 million in this mega project. Co-Chairman of Bashundhara Group Sadat Sobhan, Managing Director Sayem Sobhan and General Manager of Investment Corporation of Bangladesh Md. Khorshed Hossain signed the treaty on behalf of their respective entities at the Headquarter of the Investment Corporation of Bangladesh this afternoon (Monday). Senior Deputy Managing Director of Bashundhara Group Md. Belayet Hossain, Advisor (Press & Media) Mohammad Abu Tayeb and Acting Managing Director of Investment Corporation of Bangladesh Dina Ahsan were also present at the agreement signing ceremony. The private sector support for the state project was drawn when the government had vigorously looking for assistance from the foreign development partners.