In order to increase the capacity of gas and fuel import, processing and storage, an 'Oil and Gas Terminal' will be constructed in the Bay-Terminal area under Chattogram Port Authority.
It was informed in a meeting regarding the construction of 'Oil and Gas Terminal' in the meeting room of the Ministry of Shipping on Thursday with State Minister for Shipping Khalid Mahmud Chowdhury in the chair, according to a press release.
This terminal will help increase the 'storage capacity' of gas and fuel and improve supply system of liquid fuel and edible oil at affordable prices to meet the crisis of fuel in the country, the release added.
Secretary of Shipping Ministry Md Mustafa Kamal, Chairman of Chattogram Port Authority Rear Admiral Mohammad Sohail, Chairman of the Payra Port Authority Rear Admiral Golam Sadeq and Chairman of Mongla Port Authority Rear Admiral Mir Ershad Ali and other officials attended the meeting.
State minister Khalid said the government is positive about the construction of 'Oil and Gas Terminal'.
"Considering the overall economy of the country, this terminal should be constructed quickly. Other ports will also get benefits if it is built," he added.
He directed the chairman of Chattogram Port to take immediate action for the construction of 'Oil and Gas Terminal'.
East Coast Holdings Limited (ECHL), a strategic asset management company under the umbrella of East Coast Group, has expressed interest in building the terminal, as per the release.
A Memorandum of Understanding (MoU) was signed between the Chattogram Port Authority and the East Coast Group for the establishment of an 'Oil and Gas Terminal' in the Chattogram port area to encourage foreign and domestic investments.
