The Bangladesh Shipping Corporation (BSC) has received primary approval from the Planning Commission to acquire six container vessels from South Korea, the company announced on the Dhaka Stock Exchange (DSE) website.

Each vessel will have a capacity of 2,500-3,000 twenty-foot equivalent units (TEUs), and the total project cost is estimated at $330.32 million.

Following the announcement, BSC shares rose 1.97 percent to Tk 88 in morning trade on the DSE.

A concept paper for the project has been signed with Korea’s Economic Development Cooperation Fund (EDCF), which is currently conducting a feasibility study. The project’s implementation is subject to EDCF’s final approval, BSC said.

Additionally, according to the disclosure, BSC has initiated a separate project to procure six more vessels with capacities between 2,800 and 3,000 TEUs each.