Saturday April 29, 2017 09:43 AM

Bangladesh signs MoU with China on Payra Deep-sea Port construction

Bangladesh signs MoU with China on Payra Deep-sea Port construction

Bangladesh has inked 2 memorandums of understanding (MoU) worth $600 million with two Chinese companies for the construction of 2 of the 19 components of the Payra Deep-sea Port at Bangladesh Secretariat yesterday afternoon.

China Harbour Engineering Company Limited(CHEC) is to construct the of core port infrastructure and China State Construction Engineering Corporation (CSCEC) is to execute the riparian liabilities and construct housing, healthcare and education facilities in Payra seaport, according to the MoUs.

Commodore M Saidur Rahman BN acting chairman of the Payra seaport, Ml Zeng Nanhai CHEC joint managing director and Li Shujiang CSCEC managing director (overseas operation) signed the MoUs on behalf of their respective organisations.

Shipping Minister Shajahan Khan and Secretary Ashok Madhab Ray were present at the signing ceremony.

Prime Minister Sheikh Hasina inaugurated the partial operation of Payra seaport on August 13 this year to keep up the pace of GDP growth. The port development work is going on with a number of short, mid and long-term plans. The government eyes to implement all the 19 components and build a world class port by 2023.

Shipping Minister Shajahan Khan said: “the port authority has already bagged Tk17 crore as revenue in four months after the inauguration of the port.”

The two Chinese companies will start their operation as soon as the financial agreements are done, he added.

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