Saudi Arabia will invest in the commercial supply of liquified natural gas (LNG), and in the Eastern Refinery Unit 2 project.
According to a press release from the Economic Relations Division (ERD), Bangladesh and Saudi Arabia have agreed to form a joint task force to enhance energy cooperation between the two countries and would be continuing meetings on a regular basis.
The developments came at the two-day-long 14th Joint Commission meeting between the two countries held on October 30-31 in Riyadh.
ERD secretary Sharifa Khan led the Bangladesh delegation, while Dr Abdullah bin Naser bin Mohammad Abuthnain, Saudi vice minister for human resources and social development, led the Saudi side.
The meeting further discussed the establishment of a 1,000 MW solar power plant by Saudi company Acwa Power and another 730 MW gas-fired power plant.
Bangladesh Ambassador to Saudi Arabia Dr Mohammed Javed Patwary and Deputy of Saudi Maritime Transport Abdul Rahman M Al-Thunayan signed two MoUs in this regard.
Besides, the shipping ministry of Bangladesh and the transport ministry of Saudi Arabia signed an MoU to increase cooperation in different areas including recruiting and training the two countries’ ship workers.
Meanwhile, the two countries also signed an MoU on the establishment of a joint business council between the Federation of Saudi Chambers and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), to boost trade and commerce between the two countries.
