Saudi business tycoon Nagi Al Awad, chairman of Al Awad Group, has expressed his desire to invest $ 3.0 billion in Bangladesh. The Saudi businessman will visit Bangladesh March 8 for talks to buy state-owned Bangladesh Shilpa Rin Sangstha (BSRS) and invest in power sector, oxygen manufacturing plant and leather processing industry.

The source said the representative of the Saudi business group, Galal Saad, has already visited Bangladesh to finalise drafts of two joint venture agreements with Bangladeshi entrepreneurs for setting up a 500 megawatt power station and an oxygen plant. The Saudi representative has already visited the plant of the Bangladesh Welding Electrodes Ltd, a listed entity, aiming to buy stakes of the sponsors of that company. The Saudi group has business operations in health, banking, leather and power sectors in different countries of the world.