Western Marine Shipyard said the group had struck a deal worth BDT 4.8bn ($61.25m) for 10 cargo vessels.

The first phase will see six ships delivered over the next 18 months, with the rest dependent on successful completion of this part of the contract, the Daily Star reported.

Bank Asia is financing the first two vessels.

Saiful Islam, chairman of Western Marine, said the deal was a matter of great pride.

“This