Bay Terminal project to be discussed in cabinet meeting: Shipping adviser
The highly anticipated Chattogram Bay Terminal project, an $8 billion foreign investment venture scheduled to commence construction in mid-2024, is set to be discussed at a meeting of the Cabinet Division soon.
Quoting Shipping Adviser Brigadier General (Retd) Dr M Sakhawat Hussain, Chittagong Port Authority Secretary Md Omar Farooq told The Business Standard that the adviser made the disclosure after hearing about the project's progress from various stakeholders in a meeting today (10 November).
The Ministry of Shipping held a meeting with investors, the Chittagong Port Authority, the Public Private Partnership (PPP) Authority, and other relevant stakeholders.
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"The government has a positive attitude towards the implementation of the project," Kazi Arif Billah, the ministry's public relations officer said, adding that more meetings will be held over the implementation of the project.
A stakeholder, who attended the meeting, stated that in order to proceed with the project, the relevant officials must complete the necessary documentation for approval before the cabinet meeting.
In the meeting, the construction of terminals under the project was also discussed.
Currently, ships larger than 10 metres in depth and 200 metres in length cannot enter Chittagong Port. However, the Bay Terminal will be able to accommodate vessels with a depth of 12 metres and up to 280 metres in length.
Additionally, there will be no need to rely on tides for docking. Once the project is completed, it will be possible to berth ships with a carrying capacity of up to 6,000 containers. At present, the jetty at the port can accommodate ships with a capacity of around 2,000 individual containers.
According to the project plan, four terminals will be constructed. Among them, the multipurpose terminal will be built by the Chittagong Port Authority. The Abu Dhabi Port Group (AD Port) will invest $1 billion in the construction of this terminal in partnership with Chittagong Port. A memorandum of understanding has already been signed between AD Port Group and Chittagong Port.
