Chattogram Bureau :
World Bank (WB) has approved US $ 65 cr (US$650 million) for deep sea port infrastructure development in the Patenga bay-terminal project. The bank’s board of executive directors approved the assistance a CPA sources said.
This investment is expected to reduce import and export costs by increasing Bangladesh’s global trade competitiveness and port performance. Along with this, private investment will also be accelerated.
A 6-km climate-resilient breakwater will be constructed to protect the port from currents and extreme weather conditions under the Bay-Terminal Marine Infrastructure Development Project, a World Bank release sources said.
It will also include conducting dredging activities in port basins, inlets and channels. This modern bay-terminal will be operated by top international terminal operators, sources added.
This will make it easier than ever to maneuver large ships like panamax ships, the release said. This will save approximately 1 million dollars per day.
Abdullahi Sek, appointed World Bank country director for Bangladesh and Bhutan, said in Dhaka that Bangladesh’s international trade is highly dependent on Chittagong port.
But the port faces several constraints. The Bay-Terminal project will be a game changer. It will improve Bangladesh’s export competitiveness by increasing port capacity as well as reducing transport costs and time. It will also open up new opportunities in key global markets.
World Bank senior transport specialist and project head Mr. Hua Tan said the Bay-Terminal will contribute to the modernization of Bangladesh’s seaport infrastructure and improve its connectivity to regional and international markets.
The Bay-Terminal is expected to handle major portions of Bangladesh’s total containers. More than 1 million people including shipping companies, business community, importers, exporters and freight forwarders will benefit directly through this.
