Prime Minister Sheikh Hasina is scheduled to inaugurate the country's first deep seaport, Matarbari, today. The port is expected to start operations in 2026 and will serve as a transhipment port for the region, reducing Bangladesh's reliance on Singapore and Sri Lanka.
The new port is expected to significantly reduce transportation costs and time for the country, as it will allow large ships to dock directly at the port instead of having to transfer their cargo to smaller vessels at outer anchorage. This will also boost the country's trade and economy.
The development of Matarbari Port has transformed the Moheshkhali upazila of Cox’s Bazar. Due to the project, the local economy has seen over Tk 1,00,000 crore in various investments.
Another major project underway in the area is a large coal-fired power plant, which is being built with Japanese investment. The power plant is expected to be completed in 2023 and will provide much-needed electricity to Bangladesh's growing economy.
The development of Matarbari port and the coal-fired power plant is part of the Bay of Bengal Industrial Growth Belt (BIG-B) initiative, which was launched by former Japanese Prime Minister Shinzo Abe. The BIG-B initiative aims to transform the Dhaka-Chattgram-Cox's Bazar belt into South Asia's industrial core belt.
“Matarbari will be a key driver of economic growth and development in Bangladesh,” Mahbubul Alam, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) told The Business Post. “It will help us attract more foreign investment and boost our trade with other countries.”
Omar Hazzaz, president of the Chittagong Chamber of Commerce and Industry (CCCI), emphasised the need for a deep seaport in Chattogram to handle the growing volume of international trade.
“The country has been attracting more foreign investors due to various government initiatives. Matarbari will support Chittagong Port to cope with the pressure of international import-export trade if there is an increase in trade and commerce expansion and inter-country trade between India-Bangladesh-Bhutan and Nepal,” he added.
The official noted that the deep seaport will be able to accommodate mother vessels with a draft of 16-18 metres, which will allow for the transport of 15,000-18,000 containers in a single ship.
According to port sources, the estimated cost of the project is Tk 17,777.20 per country. The project includes the construction of a 460-metre-long container jetty and a 300-metre-long multipurpose jetty, both with an 18.5-meter draft, as well as port facilities such as a container yard.
Chattogram Port Authority (CPA) Secretary Omar Faruk said that Matarbari deep seaport is scheduled to start operations in 2026. The project is expected to be completed by December 31, 2026.
“Coal Power Generation Company Bangladesh Limited (CPGCBL) officially handed over the Matarbari Deep Seaport channel to the CPA on September 20. Since then, the CPA has been fully responsible for the use, conservation, and control of the channel, and has been collecting various types of charges and dues from seagoing vessels using the channel,” he added.
According to sources, the 14.3 km long, 250 metres wide, and 18.5-metre deep channel was dug under the CPGCBL Matarbari coal-based power project following the approval of the government.
The width of the channel was later increased by 100 metres to 350 metres, in accordance with the memorandum of understanding (MoU) signed between the Ministry of Shipping and the Ministry of Power, Energy and Mineral Resources on November 29, 2018, for the construction of Matarbari Port.
CPGCBL constructed 1,753 metres of north breakwater, 713 metres of south breakwater, and 1802.85 metres of revetment on the north side to make the constructed channel and harbour safe and secure.
The Matarbari channel was handed over to the port on the decision of the meeting on handing over the channel of Matarbari Deep Seaport at the Prime Minister's office on November 16, 2022.
Hundreds of ships, including several coal-carrying ships, have already reached safely through the channel.
