Chittagong to become country's trade, transport hub: Finance Minister

Finance Minister Amir Khasru Mahmud Chowdhury said that the construction of the APM Terminals facility at Laldia in Chittagong is a major milestone in achieving the government's target of a one-trillion-dollar economy.

He said that Chittagong is becoming not just a logistics hub for Bangladesh, but for the entire region.

"Besides the Laldia project, we are also in discussions to set up several other major port facilities, projects, and logistics centers along the Bay of Bengal coastline," the Finance Minister added.

He made these remarks as the chief guest at the foundation-laying ceremony for the infrastructure of "APM Terminals Laldia" – a 100% foreign direct investment project at Chittagong Port.

The Finance Minister said, "The core theme of all our programs under public-private partnership is that the government will step back from directly doing business and hand it over to the private sector or enter into partnerships with them. I hope this project will be able to meet its target of becoming operational within the scheduled time."

At the event, APM Terminals CEO Ramesh David said, "After full operation, the Laldia Terminal will be capable of handling approximately 1 million TEU (Twenty-foot Equivalent Units) of containers per year, which will add a 30% increase to Bangladesh's container handling capacity."

He informed that the facility will include a 616-meter-long jetty, 7 ship-to-shore cranes, 32 electric rubber-tyred gantry cranes, and 41 electric terminal tractors.

Chairman of Chittagong Port Authority (CPA), Rear Admiral S.M. Moniruzzaman, said, "Once operational, the terminal will be able to handle vessels with a capacity of up to 6,000 TEU at a time – nearly double the capacity of ships currently berthed directly at Chittagong Port."

It is learned that the terminal will be built on 49.15 acres of land along the banks of the Karnaphuli River. Construction is expected to be completed within three years. The terminal operating concession agreement will be for 30 years, with an option to extend for another 15 years.

Shipping Minister Sheikh Ruhul Alam said, "A new chapter is being written today. Our import-export trade is set to reach international standards. APM Terminals Laldia is a major investment under the PPP model. It will have many facilities. This is certainly good news for the nation."

Also speaking at the event were Jake Craig, Global Head of Business Implementation at APM Terminals BV, Danish Ambassador Christian Brix Møller, and Shipping Ministry Secretary Zakaria. Among those present were Members of Parliament, the EU Ambassador, Chittagong Chamber President Mohammad Amirul Haque, and leaders of various trade organizations.