Kaladan News

Dated: Thursday, February 10, 2005

Bangladesh Plans to Construct a New Deep Seaport

Chittagong, Feb.10: Bangladesh is planning to construct a new deep seaport on an island to create a link between Bangladesh and landlocked countries of China, India and Burma, said a report of the shipping Ministry of Bangladesh yesterday.

The proposal location of the future seaport is the offshore island of Kutubdia of Cox’s Bazaar District. It is very close to Rambree Island of Arakan State, Burma, where SPDC has also recently decided to build a deep seaport.

Regarding the deep seaport, the government is planning to float tender to appoint international consultants to study the economic feasibility and site of the planned deep seaport in Bangladesh.

The proposed part will be functioning as a regional hub facilitating not only Bangladesh but also other countries in the region for boosting international trade, shipping Minister (Col. Retd) Akbar Hussain told yesterday.

He also said the construction cost of the part would be around Tk-50 billion to be mobilized locally through securitization or capital market and equity participation both from local and foreign companies and without depending on foreign aid.

The Minister said the tender would be floated in next three months for international consultants to study the feasibility and site of the port. The construction work of the port would be started during the tenure of the present government.

According to Bangladesh’s “Look East Policy”, it hopes to extend its business especially with China and other Asia countries, while using Burma as a transit country.

Bangladesh annual revenue will be increased from Tk 6,000 million to Tk 20,000 million, according to Bangladesh shipping minister’s report. ##

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