Abu Dhabi Ports Group has submitted a $1 billion investment proposal to build a multi-purpose terminal at the Bay Terminal in partnership with Chattogram Port Authority (CPA) as Prime Minister Sheikh Hasina recently unveiled the master plan for the project.
CPA Chairman Rear Admiral Mohammad Sohail said that the construction of the terminal is scheduled to begin in the middle of 2024.
He made the announcement during an exchange with journalists at the conference room of the Bandar Bhaban auditorium in Chattogram on Wednesday.
He stated that he expects to sign a contract with PSA Singapore and DP World next year for the construction and operation of container terminals 1 and 2 at the Bay Terminal. A plan has been made to build a gas and oil terminal as the fourth terminal of the project to ensure energy security in the country. A private company has already submitted an investment proposal of $3.4 billion for this.
Additionally, Denmark's APM Terminals has proposed to build the Laldia Container Terminal, which is being processed as a PPP project.
Mohammad Sohail said that the Chattogram Port will be a smart port in 2024. Even amid global recession, the port is in the three-million-club. As of December 25, some 3,04,505 TEUs of containers have been handled and by the end of the year, the port will be able to handle 3.1 million TEUs containers, which is the same as the previous year.
CPA chairman hopes that the cargo handling of the port will exceed 12 million tonnes this year.
