Chattogram Port, AD Ports Group sign MoU

City Desk :
State Minister for Shipping Khalid Mahmud Chowdhury has hoped that the Chattogram port would handle export and import-related operations of another country someday.

“Now, foreign port operators are making investments in the Chattogram port. I see the possibility and dream that a time will come when the Chattogram port will handle the operations [of exports and imports] of another country as well,” he said, reports media.

The state minister was speaking at an event marking the signing of a non-binding memorandum of understanding (MoU) between the AD Ports Group of the UAE and the Chittagong Port Authority (CPA) at a hotel in Dhaka on Thursday.

CPA Chairman Rear Admiral Mohammad Sohail and AD Ports Group Chief Executive Officer (Ports Cluster) Saif Al Mazrouei inked the MoU on their respective sides.

According to the MoU, the Abu Dhabi-based ports and logistics giant will invest in the Bay Terminal Project, including the multipurpose terminal. They will equip the port alongside the infrastructure development.

The UAE is considered Bangladesh’s second-largest remittance source. It is also a leading trading partner with a significant base of investment; the volume of non-oil trade exchanges between the two countries exceeds USD 2 billion.