Written by The Banking Post
Foreign companies are set to take over operations of three major container terminals in Bangladesh by December, according to Shipping Secretary Mohammad Yousuf. The terminals include Chattogram’s New Mooring Container Terminal, Laldia Terminal, and Pangaon Inland Container Terminal in Keraniganj.
Speaking at a seminar organised by the Economic Reporters Forum (ERF) in Dhaka on Sunday, Yousuf said negotiations are at the final stage and expected to be wrapped up within the year. “We will not compromise on national interests. Negotiations are ongoing at the highest level, and we hope to finalise a contract by December,” he said.
The Laldia Terminal will be leased out for 30 years, while the New Mooring and Pangaon terminals will be managed under 25-year contracts.
The ministry had earlier aimed to sign the agreements by October. Explaining the delay, Yousuf said, “These involve foreign companies, and extensive negotiations are required. We have made significant progress and expect completion by December.”
Citing regional practices, he noted that foreign operators already manage ports in India, Myanmar, and Sri Lanka. “If it works there, why would it be an issue here? Strategically and geographically, handing over Chattogram to foreign operators is manageable,” he added.
The shipping secretary also highlighted the potential benefits for businesses. “Currently, a ship pays around $15,000 per day in waiting fees and it takes three to four days to unload cargo. Cutting that time by half will reduce costs and prevent unnecessary waiting charges,” he said.
