Chattogram: Bay Terminal’s ‘Terminal-1’ is set to commence operations by 2030, as announced by Chattogram Port Authority (CPA) Chairman Rear Admiral SM Moniruzzaman. He conveyed this target during a press briefing following a meeting about the Bay Terminal held at the port’s Shaheed Md. Fazlur Rahman Auditorium.
According to Bangladesh Sangbad Sangstha, SM Moniruzzaman stated that the target is achievable if construction on the first terminal of the Bay Terminal project begins by mid-next year. He highlighted that all ongoing projects will adhere strictly to Public Private Partnership guidelines, ensuring complete compliance. The chairman expressed optimism about the project’s progress and anticipates showcasing a success story soon.
SM Moniruzzaman detailed that the multipurpose terminal will accommodate both container and general cargo ships. He stressed the importance of considering gearless vessels to maintain competitiveness and efficiency. Top consulting firms are involved in the project to evaluate market potential, financial viability, social and environmental impacts.
The chairman emphasized the project’s significance, stating that it aims to withstand major disasters and become a world-class facility, enabling direct shipping to Europe. He envisions Bangladesh becoming a regional manufacturing hub, which necessitates a secure market.
He further noted that the Bay Terminal’s construction is vital for 24-hour channel operation and efficient global compliance, which will facilitate the operation of large ships. The terminal is expected to attract substantial manufacturing investments to Bangladesh, with major international companies already showing interest.
Highlighting the current financial impact, SM Moniruzzaman revealed that the absence of the Bay Terminal results in a daily loss of $1 million. The terminal’s establishment will not only mitigate these losses but also unlock significant potential for the country.