Abu Dhabi Ports to invest $1b in multipurpose bay terminal at Chittagong port
Abu Dhabi Ports Group (AD Ports) has pledged a substantial investment of 1 billion US dollar towards the development of a highly anticipated multipurpose bay terminal at Chittagong Port.
According to port authorities, this state-of-the-art terminal is projected to handle up to one million TEU (twenty-foot equivalent units) containers and seven million metric tons of cargo annually.
Representatives from Abu Dhabi Ports Group, Chittagong Port Authority (CPA), the Ministry of Shipping, and AD Port's Bangladesh agent, Saif Powertech, convened at Hotel Westin in Dhaka on May 16 to formalize the commitment through the signing of a memorandum of understanding (MoU).
This landmark agreement signifies a significant stride towards bolstering the nation's import and export capabilities, while concurrently streamlining logistics processes and reducing both time and costs associated with transportation.
Situated along the Patenga Halishahar coastline, approximately six kilometers from the existing Chittagong port, the bay terminal will sprawl across 2,500 acres of land.
The ambitious project encompasses the construction of four terminals, including a multipurpose terminal underwritten by AD Ports, and two container terminals financed by PSA International Pte Ltd and DP World. Each container terminal will receive investments totaling $1.5 billion. Additionally, East Coast Group and its subsidiaries are slated to inject $3.5 billion into a liquid cargo terminal.
A significant portion of the investment, around $500 million, will be allocated towards channel construction, with the overall infrastructure development budget reaching a staggering $10 billion. This encompasses essential elements such as a breakwater (surge barriers) and a truck terminal.
CPA outlines the scope of the bay terminal project, comprising a multipurpose terminal and two container terminals with a collective berth length of 3,950 meters.
The multipurpose terminal will comprise five berths, boasting a total berth length of 1,500 meters, equipped to accommodate Panamax-class container ships, bulk carriers, and ro-ro ships.
Meanwhile, each container terminal is slated to feature a berth length of 1,225 meters, accommodating between four to eight berths apiece.
.png "Advertisement")
