Chattogram:Chattogram Port Authority (CPA) and DP World, a leading logistics and port operator from the United Arab Emirates, will sign a 15-year concession agreement for the operation and maintenance of the New Mooring Container Terminal (NCT) at Chattogram Port. The signing will take place tomorrow at 3 pm in the Invest Bangladesh Auditorium under the Public-Private Partnership framework.
According to Bangladesh Sangbad Sangstha, the signing ceremony will be attended by key figures including Shipping Minister Shaikh Rabiul Alam, Chairman of Invest Bangladesh Ashik Chowdhury, and DP World Chairman Essa Kazim. The event will feature an audio-visual presentation by Bangladesh and remarks from representatives of both parties.
The Cabinet Committee on Economic Affairs approved the draft concession agreement on October 1, paving the way for the formal signing. The agreement encompasses the operation and maintenance of the NCT and its Overflow Container Yard. This initiative aims to enhance the efficiency and capacity of Bangladesh's port infrastructure, attract investment, and create skill development opportunities.
The NCT, a vital facility at Chattogram Port, handles over 40 percent of the port's container throughput. Built in 2007 at a cost of around Taka 2,000 crore, it includes five jetties and 14 of the port's 18 quayside gantry cranes. The appointment of an international operator for the NCT has been considered for several years, with the Cabinet Committee granting in-principle approval in March 2023.
Currently operated by Chittagong Dry Dock Ltd, a Bangladesh Navy-controlled company, the transition to DP World marks a significant step in modernizing Chattogram Port and increasing private sector participation. DP World's involvement also signifies its entry into Bangladesh's port sector, joining other international operators at various terminals.