World Bank approves $650 million to help Bangladesh develop Bay Terminal

Date:

The World Bank approved $650 million to help Bangladesh invest in infrastructure critical for developing the Bay Terminal deep seaport, a mega project in the country’s southeastern Chattogram region.

The Bay Terminal would significantly improve Bangladesh’s global trade competitiveness and reduce import and export costs by increasing port operational efficiency and mobilising private investment, said the lender on Friday.

The government has planned to develop two container terminals, a multipurpose terminal and an oil and gas terminal under the Bay Terminal, Xinhua news agency reported.

The World Bank earlier promised to finance the Bay Terminal Marine Infrastructure Development Project, under which a 6-km-long climate-resilient breakwater would be constructed to protect the harbor from the force of waves, current and extreme weather.

 It will also carry out dredging of the port basin, entrance and access channels, said the press release.

The Bay Terminal, located in the Anandangar near Sandwip channel, west of the Chattogram port, and close to existing road and rail links to Dhaka, is expected to handle 36 percent of Bangladesh’s container volumes.

Share post:

Popular

More like this
Related

‘One action might decide this game’ – Frank on Everton test

Brentford manager Thomas Frank believes there will be an...

South Carolina women’s basketball vs UCLA score prediction, scouting report for Top 10 game

COLUMBIA — No. 1 South Carolina women's basketball closed...

Liverpool injury return dates: Van Dijk, Alexander-Arnold and Jota

Sign up to Miguel Delaney’s Reading the Game newsletter...

Players, British Open champion Cameron Smith leads star-packed field for Gator Bowl Pro-Am

Six PGA Tour winners lead the field for the...