Bangladesh’s Star Infrastructure Development, Iran's Servigas Sign LPG MoU

Bangladesh’s Star Infrastructure Development Consortium Limited and Iran’s Servigas Inc have signed a MoU to establish production facilities of LPG trucks, LPG industrial storage tanks, household cylinders for cooking stove and cylinders for vehicles.

Abdul Matlub Ahmad, chairman of Star Infrastructure Development Consortium Limited, and Shahariar Rabiee, managing director of Servigas, signed the MoU in Dhaka on Monday, Dhaka Tribune reported.

Ahmad said that initially the joint venture will invest around $12 million to establish facilities to produce LPG storage tankers and household tankers.

Three locations have been shortlisted for setting up of production facility. Out of these, one will be selected after approval from a technical team from Iran.

“But the most important part is that through this agreement, Servigas will transfer its knowledge and technical expertise of the LPG sector to Bangladesh and eventually help us take the sector forward.” Matlub Ahmad said.