The World Bank will provide $650 million funding for dredging of the access channel and breakwater construction at the Bay Terminal. Once commissioned, the terminal alone will have a capacity to handle 5 million teus. The port currently handles 3.2 million teus. The terminal will improve the port’s efficiency, lowering exim cost.
Chittagong Port Authority (CPA) Chairman Rear Admiral Mohammad Sohail said around 1,600 acres of land would be reclaimed for constructing four terminals through the dredging process, which is scheduled to begin in October. Two container terminals, a multipurpose terminal and an oil and gas terminal will be constructed under the Bay Terminal. The terminal will welcome panamax vessels with a lower turnaround time, saving the economy about $1 million daily.
