Bangladesh’s interim government plans to reassess the Bay Terminal project, the largest expansion in Chattogram port’s history, as part of a broader review of major projects approved by the prior Awami League administration. Despite an $8 billion investment interest from global port operators, the project has made limited progress since ex-Prime Minister Sheikh Hasina introduced its master plan in November 2023.
To scrutinize the project’s feasibility, the shipping ministry has scheduled a high-level meeting for November 10, where the Chittagong Port Authority (CPA) will present an update. The meeting will involve key government officials and potential investors, including the World Bank, which approved a $650 million loan for initial dredging and breakwater construction.
The CPA previously signed an MoU with AD Ports Group, which proposed $1 billion for a terminal, while PSA Singapore and UAE’s DP World each pledged $1.5 billion for container terminals. The project’s evaluation may determine the project’s next phase.
Source for more details:
