Bangladesh is expected to become a trillion-dollar economy by 2034, and Chattogram Port will move forward alongside the country’s expanding economy, Finance and Planning Minister Amir Khosru Mahmud Chowdhury said.
He made the remarks as the chief guest at the groundbreaking ceremony of the Laldia Container Terminal at Patenga in Chattogram on Sunday (August 30).
The minister said the incumbent government is business-friendly and will play the role of a policy facilitator and regulator to support business expansion.
“The arrival of A.P. Moller in Bangladesh is a milestone. They will build a modern port at Laldia, and the government is providing all-out support to the project,” he said.
Road Transport and Bridges, Railways and Shipping Minister Sheikh Robiul Alam attended the event as a special guest. Ramesh David, chief executive officer of APM Terminals Laldia, delivered the welcome address.
Danish Ambassador to Bangladesh Christian Brix Moller, Shipping Ministry Secretary Zakaria, Chattogram Port Authority Chairman Rear Admiral M Moniruzzaman and APM Terminals B.V. Global Head of Business Implementation Jake Craig also spoke at the event.
The Laldia Container Terminal project is being developed by APM Terminals, a subsidiary of Danish shipping giant A.P. Moller-Maersk, with an estimated direct foreign investment of around $750 million.
The investment has been described as the largest single European equity investment in Bangladesh to date.
The terminal is being constructed on approximately 49.15 acres of land. Of this, 32 acres will be used for the main terminal, 7.15 acres for the container yard and 10 acres for truck parking and pre-gate facilities.
QNS Container Services Ltd is the local partner in the project.
The terminal will be equipped with seven ship-to-shore (STS) gantry cranes, 32 electric rubber-tyred gantry (eRTG) cranes and 41 electric terminal tractors.
Construction is expected to be completed within three years. The terminal will have an operating concession of 30 years, with the possibility of extending it by another 15 years.
It will have an annual container-handling capacity of around 900,000 TEUs. The 613-metre-long jetty will be capable of accommodating vessels with a draft of 10.5 metres and a capacity of up to 6,000 TEUs.
With its potential to reduce logistics costs, the Laldia Container Terminal is being viewed as a potential game changer for Bangladesh’s maritime trade.
