The Ministry of Shipping has decided to move forward with the $8 billion Bay Terminal project near Halishahar, with consultations from key stakeholders. The terminal, which will boost Chittagong Port’s capacity, is set for construction on 2,500 acres of land. Local and foreign investors, including AD Ports Group and PSA Singapore, are interested in the project. The World Bank has provided a $650 million loan for dredging and breakwater construction. The transaction adviser, Ernst & Young, has not yet submitted its report, but the project is progressing as planned.
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