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FINANCIAL NEWS
Saudi Marasel to set up JV with Bangladesh firm
30 Aug 2010
(MENAFN) Bangladesh’s biggest private sector industrial conglomerate Beximco said that it has set up a joint venture with a Saudi firm to invest nearly $1 billion for upgrade of Bangladesh’s sole oil refinery, Reuters reported.
Beximco and Marasel Company of Saudi Arabia will jointly submit interest for funding an upgradation project of the Eastern Refinery Limited.
State-owned Bangladesh Petroleum Corporation (BPC) invited offers in July from international firms and financial institutions to finance the $900 million project near Chittagong port.
It is noteworthy that Marasel Company is owned by Saudi Prince Salman Bin Sultan Bin Abdul Aziz Al-Saud and has large investments in various sectors, mainly in energy.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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