Engineering Dimensions plans $35M transformer production in Bangladesh, bypassing Gemco joint venture

Saudi Arabian company Engineering Dimensions is proceeding to produce transformers and electrical equipment independently, bypassing a 2018 joint-venture agreement with Bangladeshi state-owned Gemco. The company had pledged $35 million investment. Bangladesh is now revisiting the deal.

“The Saudi company had pledged an investment amounting to $35 million for the purpose.”tbsnews.net

• 1 source
• tbsnews.netSaudi co bypasses deal with state-run Gemco | The Business StandardSaifuddin SaifNov 17, 2021

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