Chattogram Port Authority (CPA) and DP World of the United Arab Emirates (UAE) will sign a 15-year concession agreement tomorrow for the operation and maintenance of the New Mooring Container Terminal (NCT) at Chattogram Port.
The agreement will be signed at the Invest Bangladesh Auditorium in the city at 3pm under the Public-Private Partnership (PPP) framework, according to the programme circulated by the organisers.
DP World, a leading global logistics and port operator based in the UAE, will operate the NCT under the concession arrangement.
Shipping Minister Shaikh Rabiul Alam, MP, and Chairman (State Minister status) of Invest Bangladesh Ashik Chowdhury and Chairman of the Board of Directors of DP World Essa Kazim are scheduled to attend the signing ceremony and deliver remarks.
The programme includes the signing ceremony, an audio-visual presentation by Bangladesh and remarks by representatives of the two sides.
The Cabinet Committee on Economic Affairs on October 1 approved the draft of 15-year concession agreement, clearing the way for the formal signing between CPA and DP World.
The concession will cover the operation and maintenance of the NCT, including its Overflow Container Yard (OCY).
The initiative is expected to improve the efficiency and capacity of Bangladesh’s port and logistics infrastructure, attract investment, enhance terminal operations and create opportunities for skills development.
The NCT is one of the key facilities of Chattogram Port, the country’s principal seaport and a major gateway for Bangladesh’s international trade. It handles more than 40 percent of the port’s total container throughput.
The terminal, built at a cost of around Taka 2,000 crore in 2007, has five jetties and 14 of Chattogram Port’s 18 quayside gantry cranes.
The move to appoint an international operator for the NCT has been under consideration for several years. The Cabinet Committee on Economic Affairs gave in-principle approval in March 2023 to appoint an international private operator under the PPP model.
The NCT is currently operated by Chittagong Dry Dock Ltd, a Bangladesh Navy-controlled company.
The signing of the concession agreement marks a major step in Bangladesh’s efforts to modernise Chattogram Port, improve logistics efficiency and increase private-sector participation in port operations.
It will also make DP World the latest international operator to become involved in Bangladesh’s port sector, following the participation of foreign operators at other terminals.
Cox’s Bazar Life Desk/BSS
