Bay Terminal Project Gets Fresh Push

Published On November 8, 2024
11:46 am

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Industry: Shipping

The planned Bay Terminal in Chattogram has gained momentum amid a shifting political landscape, with the Ministry of Shipping set to review the project’s progress and establish a strategy to initiate construction. Next week, officials from the ministry, including the shipping adviser, Chittagong seaport authorities, Public-Private Partnership Authority (PPPA), potential local and foreign investors, and transaction adviser Ernst & Young LLP, will meet to discuss financing and implementation steps.

The project, projected to cost around $8 billion, will be built on 2,500 acres near Halishahar, enhancing the Chittagong port’s annual capacity by 5 million TEUs. AD Ports Group plans to invest $1 billion in a multipurpose terminal, PSA Singapore and DP World each plan $1.5 billion investments in container terminals, and East Coast Group with foreign partners aims to invest $3.5 billion in a liquid bulk terminal.

Source for more details:

The Financial Express

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