Bangladesh on Thursday signed a 15-year agreement with UAE-based DP World to operate and maintain Chittagong Port’s New Mooring Container Terminal (NCT) and its overflow container yard.
The agreement was signed at 3:40pm.
Chittagong Port Authority Chairman Rear Admiral SM Moniruzzaman and DP World Chairman and CEO Sultan Ahmed bin Sulayem signed the agreement.
The process of appointing an international operator for NCT began in 2019.
In March 2023, the Cabinet Committee on Economic Affairs gave in-principle approval to appoint an international private operator under a public-private partnership framework.
The interim government later revived the initiative and selected DP World. However, the process stalled amid opposition and a workers’ strike earlier this year. The current government subsequently resumed negotiations.
Built in 2007 at a cost of around Tk2,000 crore, NCT has five jetties. Fourteen of Chittagong Port’s 18 quayside gantry cranes are located at the terminal.
More than 40% of the port’s container handling is carried out through NCT.
The project initially received in-principle approval from the Cabinet Committee on Economic Affairs in March 2023. The latest approval relates to the draft concession agreement governing the terminal’s operation and maintenance for 15 years.
Meanwhile, the Chittagong Port Protection Committee has been holding various programmes demanding the cancellation of the process to lease the terminal to a foreign company.
