A maiden multimodal container terminal (MMCT) is being built in Chattogram under a public-private joint venture for trebling the container- handling capacity of Bangladesh's premier port.
With this task, the first railway container company embarked upon its journey Tuesday by signing a contract with a leading private firm to develop the multimodal container terminal.
Under the Tk 3.08-billion deal, a concern of Saif Power Group will design, build and finance the container terminal on 21.29 acres land at Halishahor in the port city in two years and operate and maintain it for next 20 years.
Saif Logistics Alliance Limited (SLAL), a special-purpose company of Saif Power Group, will share 21.5 per cent of monthly income with the Container Company of Bangladesh Limited (CCBL), a cent- percent state-owned container company.
A yearly fixed royalty of Tk 15 million will have to be paid to CCBL in case of no earning.
Since the formation of the company under the Ministry of Railways in 2016 to increase its earning, CCBL has now made the first deal to increase the terminal-handling capacity from 90,000 TUS to nearly 300,000 TUS by using both road and rail routes.
The CCBL-SLAL partnership pact was signed Tuesday at a Dhaka hotel. CCBL Managing Director Mohammad Belal Uddin and SLAL MD Tarafder Mohammad Ruhul Saif inked the contract on behalf of the respective sides.
Railway Minister Mohammad Nurul Islam Sujon witnessed the deal-signing ceremony. Railway Secretary Mohammd Selim Reza, Director- General of Bangladesh Railway Dhirendra Nath Mazumder and Chairman of Saif Power Group Tarafder Mohammad Ruhul Amin were present.
The rail minister said the container company has been formed to reach the rail-container service door to door and increase the railways' share in the goods transportation significantly.
He also said developing dedicated goods-transportation line has also been in the planning of Bangladesh Railways with the target of providing desired service to businesses.
"Railway cannot be profitable from its passenger service. Its earning can be increased from container-handing service as it is cost-effective than road transport," he told the function.
Mr Sujon also said taking into account the matter of making the BR a profitable state concern, necessary rail infrastructures have been developed with Mongla Port and other border routes.
The Railways Secretary said the CCBL has a target to bring the lion's share of container handling through railway and the deal with Saif Power Group is a "win-win situation".
The Chairman of Saif Power Group expressed his belief that the multimodal container terminal would be the right arm of the Chattogram seaport and play significant role in handling growing number of containers from the port in years to come.
smunima@yahoo.com