Saudi firm submits financial, technical proposals to operate Patenga container terminal
Subject to the evaluation of proposals, and Cabinet approval, CPA expects to sign an agreement with the company by the end of November
The Red Sea Gateway Terminal (RSGT), a Saudi company, submitted comprehensive financial and technical proposals to the Chattogram Port Authority (CPA) regarding the operation of the Patenga Container Terminal (PCT) for 22 years.
According to the CPA, the technical committee of the CPA will evaluate the proposals. Commodore Mohammad Mahbubur Rahman, a member (Engineering) of CPA, is the convener of the technical committee.
Subject to the pending evaluation of proposals, and Cabinet approval, it is expected to sign an agreement with the company by the end of November.
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CPA's secretary and spokesperson, Md Omar Faruk, said, "We received the proposals from Red Sea Gateway on Sunday, and these submissions were presented to CPA Chairman Rear Admiral Mohammad Sohail."
The technical committee is currently tasked with the evaluation process, and all procedures are expected to be completed by 15 November, he added.
The Ministry of Shipping and the Public Private Partnership Authority play integral roles in this process, as their decisions will influence the fate of the contract.
The PPP Authority outlined plans for equipment procurement and terminal enhancements to be executed within the initial two years of the 22-year contract. Notably, Red Sea Gateway is well-regarded for its use of cutting-edge machinery and technology in port management.
Despite the initial financing by CPA, the business community has voiced frustrations over the notable delay in commencing port operations. They urged the government to expedite the operational launch, emphasising the significant cost and time-saving benefits it would bring.
The container terminal was officially completed in July of the previous year. Initially slated for CPA operation, a government decision shifted towards engaging a foreign operator under the PPP model. Upon commencement, the terminal is poised to handle an annual capacity of 450,000 TEUs (Twenty Foot Equivalent Unit) containers, according to Chattogram port projections.
In a significant development, on 26 January of the current year, a 200-metre-long vessel anchored at the container terminal. In November of the prior year, the terminal's inauguration on a trial basis saw goods unloaded from the cargo vessel MCL-19, imported from Myanmar.
