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Penta-Ocean wins $1.48bn port project in Bangladesh

Japanese contractor wants more orders from emerging countries

Penta-Ocean Construction has already completed preparatory work for the Bangladesh port and power plant project.

TOKYO -- Penta-Ocean Construction is gearing up to build a large port in southern Bangladesh, as part of a broader development project involving Sumitomo Corp. and other Japanese players.

The Japanese contractor announced the roughly 162 billion yen ($1.48 billion) port order on Aug. 23 -- the largest contract it has received on its own to date. The order came from a Japanese consortium that struck a 500 billion yen deal with a Bangladeshi utility to develop a coal-fired power plant and nearby port in the district of Matarbari. 

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