Saudi Arabian business tycoon Nagi Al Awad is set to propose an investment of $3bn in oxygen manufacturing in Bangladesh.
Nagi Al Awad, also chairman of Al Awad Group, is interested in a take over of state-owned Bangladesh Shilpa Rin sangstha (BSRS), to set up a 500 MW power plant and a 100 percent export-oriented oxygen manufacturing plant in Bangladesh.
His representative visited Dhaka in January and expressed the investment interest, according to reports, which add $quot;they have so far finalized two initial agreements with their local counterparts on the power and oxygen plants.$quot;
In a statement Mr Nagi Al Awad said he planned to meet with Bangladesh’s Finance and Commerce Advisor Mirza Azizul Islam on March 1 and officially submit the investment proposal on March 3.
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