Middle East Economic Survey

VOL. XLVIII

No 7

14-February-2005

Saudi arabia

Saudi Arabias HTIG Offers $2Bn Refinery To Bangladesh

Saudi Arabias Hi-Tech International Group (HTIG) has offered to build a 200,000 b/d refinery in Chittagong, Bangladesh, at a cost of $2bn. HTIG has applied to Bangladesh for foreign direct investor status and if the project goes ahead it will be the largest foreign investment in the countrys petroleum sector. The Riyadh-based firm has also asked Bangladesh to allot it...