Shasha Denims has acquired a 90% stake in a joint venture that will invest Taka 350 crore to develop the Ghorashal Inland Container Depot (ICD) in Narsingdi, according to a disclosure filed with the stock exchange.
The project will be implemented under a public–private partnership framework with Bangladesh Railway, following a design, build, finance, operate, maintain and transfer (DBFOMT) model. A 30-year concession agreement has already been executed with the railway authority.
To undertake the project, a special-purpose vehicle, Ghorashal ICD and Port Limited, has been incorporated, with Shasha Denims currently holding the majority stake. The company stated that the ownership structure may be revised at a later stage to accommodate strategic investors in order to enhance the project’s technical expertise and financial strength.
The proposed multimodal inland container depot will be developed on 20 acres of land owned by Bangladesh Railway. It will handle import and export cargo connected to Chattogram and Mongla ports. Under the terms of the agreement, Bangladesh Railway will lease the land to the project and receive 15% of the depot’s total revenue.
Shasha Denims’ company secretary, Aslam Ahmed Khan, said construction of the facility is expected to be completed by 2028, with commercial operations commencing thereafter.
The project is being executed through the Container Company of Bangladesh Limited (CCBL), a subsidiary of Bangladesh Railways. Previous efforts to attract investors through multiple tenders were unsuccessful, leading to renewed initiatives to bring in private sector participation.
Shasha Denims is a listed textile manufacturer with annual revenue of approximately Taka 1,000 crore. In the 2024–25 financial year, the company reported consolidated revenue of Taka 1,128 crore, while profit declined 12.54% year on year to Taka 21.68 crore.
