Chittagong:The Cabinet Committee on Economic Affairs (CCEA) has approved a draft Concession Agreement for the operation and maintenance of the New Mooring Container Terminal (NCT) at Chittagong Port. This agreement includes the Overflow Yard (OCY) and will allow an international terminal operator to manage these facilities for 15 years.
According to Bangladesh Sangbad Sangstha, the approval was granted during the CCEA's 31st meeting, which was chaired by Finance Minister Amir Khosru Mahmud Chowdhury at the Cabinet Division in the capital.
The agreement will be executed by the Chittagong Port Authority (CPA) under a Public-Private Partnership project titled 'Operation and Maintenance of CPA's New Mooring Container Terminal (NCT) including Overflow Yard (OCY)', as proposed by the Ministry of Shipping.
In addition, the CCEA provided in-principle approval for a proposal from the Ministry of Industries to import urea fertilizer from Russian manufacturer JSC SHCHEKINOAZOT. This will be facilitated through Delta Star Trading FZ-LLC of the United Arab Emirates, using the Direct Purchase Method.