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ABU Dhabi Ports Group (AD Ports) has committed to invest US$1 billion for the much-anticipated multipurpose bay terminal at Chattogram Port with a capacity of 1.5 million TEU and handling seven million tonnes of cargo annually.
This is one of the four bay terminals for the port to be built under an estimated $10 billion mega project, targeting increased cargo handling alongside accommodating bigger ships, reports The Business Standard, Dhaka.
Starting construction works by October-November this year, the first of the four bay terminals of the Chattogram Port is expected to start operations by 2027-28, said Chittagong Port Authority (CPA) chairman Rear Admiral Mohammad Sohail.
The last terminal of the project would take 7-8 years from now, he told journalists following the recent signing of a non-binding memorandum of understanding (MoU) between the CPA and Abu Dhabi Ports for "cooperation related to Bay Terminal Project including Multipurpose Terminal".
The CPA was in talks to award the works for building and operating the four terminals - two container terminals, the multipurpose terminal, and a bulk liquid terminal with different international marine and port players and yet no final deal has been inked, he added.
"We are negotiating with the interested partners about the ins and outs of the needed final agreements."
For instance, he said, for the two container terminals at the new part of the Chittagong Port, talks with Singapore-based PSA International and UAE-based DP World have progressed a lot for public-private partnerships (PPP). Both the projects are estimated to be of $1.5 billion each.
Local East Coast Group is also in talks to build, operate and hand over later a bulk liquid terminal at around $3.5 billion, eying efficiency in importing fuel.
Besides, Danish Maersk Group's arm APM Terminals also expressed their interest to build the planned Laldia Container Terminal in Chattogram port, the CPA chairman said.
Khairul Alam Sujan, vice president of the Bangladesh Freight Forwarders Association, said: "The Bay Terminal project is our long-awaited dream. Its implementation is definitely positive news. Once operational, import and export trade will speed up significantly. Large ships will be able to anchor here, reducing time and cost."
The Chittagong Port currently handles 3-3.2 million TEU annually that contain 120 million metric tonne cargo.
Besides, Chittagong Port currently can only accommodate ships up to 10 metres in depth and 200 metres in length. The new bay terminal will be able to accommodate vessels up to twelve metres in depth and 280 metres in length.
"Once completed, ships will no longer depend on the tides for berthing and avoidance of a twelve-hour waiting for the tidal waves would help save a cost of $10-15 thousand in each trip. The terminal will handle ships with a carrying capacity of 6,000 containers, compared to the current port jetty's capacity of about 2,000 containers," Mr Khairul added.
https://shippingazette.com/
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