Bangladesh's highest economic policy-making body has approved a significant expansion project for the country's largest seaport, Chattogram.
The Bay Terminal Marine Infrastructure Development Project carries a total cost of 135.25 billion taka (approximately 1.108 billion USD).
The approval was granted at a meeting of the Executive Committee of the National Economic Council (ECNEC), chaired by Chief Adviser of the Bangladeshi interim government, Muhammad Yunus.
Md Omar Faruk, secretary of the Chittagong Port Authority (CPA), stated regarding the project's next steps, "the CPA will now go for floating international tenders to engage contractors for the marine infrastructure development."
Funding for the project is planned to include 41.92 billion taka from the CPA's own resources, with the remaining 93.33 billion taka anticipated from foreign loans.
The World Bank has reportedly approved 650 million USD specifically allocated for two primary components: the construction of a wave-preventing breakwater and the dredging of the access channel.
The project's scope involves the construction of two container terminals and a multipurpose terminal, designed to span approximately 4 kilometers along the coastline of the Bay of Bengal within Chattogram city.
According to project documentation, the development will include a total of 13 jetties and the construction of a 6.217-kilometer breakwater intended to protect the terminal from rough sea conditions.
Chittagong Port Authority (CPA) is a statutory organization under the Ministry of Shipping in Bangladesh. It is responsible for the administration, maintenance, and development of the Port of Chattogram. The Port of Chattogram, situated on the Karnaphuli River in southeastern Bangladesh, functions as the country's largest and busiest port, handling an estimated 90 percent of Bangladesh's international seaborne trade. Chattogram is located approximately 242 kilometers southeast of the capital city, Dhaka.