Bangladesh to Buy Wagons From India’s Texmaco for $16.5 Million

Bangladesh will buy 165 tank wagons and six brake vans from Indian manufacturer Texmaco Ltd. (TXM) in a deal worth $16.5 million as Prime Minister Manmohan Singh today announced he would visit his eastern neighbor in September.

Bangladesh is buying the wagons and vans using part of a $1 billion line of credit from India announced last year, according to a government statement. The wagons and vans will be used to supply oil to power plants, Bangladesh’s Communications Minister Syed Abul Hossain said after the contract was signed in Dhaka.

Singh will visit Bangladesh Sept. 6 and Sept. 7, according to a statement on the website of India’s Ministry of External Affairs.

To contact the reporters on this story: Arun Devnath in Dhaka, Bangladesh at adevnath@bloomberg.net; Andrew Macaskill in New Delhi at amacaskill@bloomberg.net

To contact the editor responsible for this story: Arijit Ghosh at aghosh@bloomberg.net; Peter Hirschberg at phirschberg@bloomberg.net

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