The Executive Committee of the National Economic Council (Ecnec) has approved 16 projects, including the establishment of a new naval base, to ensure security for Payra Port in Kalapara upazila in Patuakhali.
The approval came from the 13th Ecnec meeting of the current fiscal year, held at the NEC conference room in Dhaka with Prime Minister Sheikh Hasina in the chair.
The naval base project, BNS Sher-e-Bangla Patuakhali, will be implemented from June 2018 to June 2021 at an estimated cost of Tk 1,081.50 crore. The entire fund will come from the state coffer.
Briefing reporters after the meeting on Tuesday, Planning Minister AHM Mustafa Kamal said: "A total of 16 projects were approved today involving an overall cost of Tk5,220.83 crore."
Of the total estimated cost, Tk4,744.12 crore will come from the national exchequer, while Tk13.83 crore from the organizations' own funds, and Tk462.88 crore as project assistance, he said.
Of the 16 projects, 15 are new, while one is revised one.
Talking about the BNS Sher-e Bangla project, the minister said the new naval base will have some 5,000 military and civil members.