The Payra Port Authority (PPA) and the Payra Dredging Company Limited, a venture of Jan De Nul, a Belgium-based company, have signed an agreement on capital and maintenance dredging of Rabnabad channel of the port.
PPA Chairman Commodore M Jahangir Alam and Chairman of Jan De Nul David Jonckheere signed the agreement on behalf of their respective sides at the conference room of the shipping ministry in the city on Monday.
The shipping ministry will implement the fast-track project involving Tk 86.43 billion (Euro 864 million) under public private partnership (PPP) mode.
As per the agreement, Payra Dredging Company will complete the capital and maintenance dredging work within 34 months to facilitate movement of 40000 DWT bulk carriers with up to 10.5-metre drafts.
The project will be implemented in three specific phases.
In the first phase (14-month duration), the actual amount of siltation in the Rabnabad channel will be determined, three observation posts (monopoles) at sea will be installed and two dredgers will be mobilised to observe tidal levels, current speed and direction, wind speed and direction, dredge five test pits and carry out various types of engineering studies.
In the second phase, main capital dredging work of inner and outer channels will be completed using 11 dredgers in 14 months.
During this time, offshore reclamation in the coastal areas, six-km long offshore reclamation and lighted buoys will be installed in the channel for safe navigation.
Initial maintenance dredging will be carried out in the channel in the third phase.
Due to capital dredging, a 75-km long, 100 to 125-metre wide and up to 10.5-metre deep channel will be created.
The Payra Dredging Company will take loans from HSBC and its consortium bank with the help of Belgian Credit Agency to implement the project.
The PPA will pay back the project cost in 20 equal half-yearly installments on completion of the initial maintenance dredging.
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