USD 58m Patenga Container Terminal approved in principle

Two days after the Chittagong Port Authority took possession of land in Laldiar Char, the cabinet committee on economic affairs on Wednesday gave its approval in-principle to a project titled ‘Equip, Operate and Maintenance of Patenga Container Terminal’.

The new project would be implemented under public-private partnership, UNB reports.

According to a pre-survey by the Ministry of Shipping, the potential investment for the project is $58 million and the annual operating cost would be $8 million.

Mohammed Mezbah Uddin Chowdhury, secretary to the shipping ministry provided an outline of the project to the meeting.

Secretary and chief executive officer the PPP Authority, Sultana Afroz, told the meeting, "Implementation of the project through PPP modality would generate employment in that region and help to alleviate poverty and the project will contribute in economic development of the country.”

She added that many foreign investors interested in this project have already approached the PPP Authority.

At present, 7 PPP projects under the Ministry of Shipping are in various stages of implementation, UNB reports.