Source: Fibre2Fashion
The process to allocate 500 acres of government land for the Bay Terminal project at Chittagong Port is all set to conclude even as the Chittagong district administration has issued three letters instructing the Chittagong Port Authority (CPA) to deposit the land lease charges with the Bangladesh Bank and provide receipts to its office.
This project encompasses the construction of four terminals on approximately 2,500 acres of land, enhancing the port’s capacity to accommodate larger vessels with drafts of up to 12 meters and lengths of 280 meters upon completion.
The CPA is slated to receive 500.72 acres of fallow government-owned land in the South Kattoli and Halishahar areas of the port city at a minimal token price.
Describing this development as pivotal for expediting the mega expansion project, CPA secretary Md Omar Faruk highlighted that upon the deposition of funds, the land would be transferred, facilitating construction commencement.
Administrative approval had been secured for the acquisition of 870 acres of land, including 66.85 acres privately owned, acquired in September 2018.
However, decisions concerning the remaining 803 acres had lingered for six years. The impending transfer of the 500 acres will cover a substantial portion of this remaining land even as Faruk disclosed the process of allocating over 120 acres belonging to the Forest Department and the proposal for acquiring the remaining 188 acres claimed by individuals were in their final stages.
The rest, totalling 1,620 acres, will be reclaimed from the sea.
With aspirations for approximately $8 billion in foreign direct investment, the authority expects commencing construction soon.
