DP World proposes to conduct feasibility study on deep-sea port

The UAE-based firm DP World has proposed to conduct feasibility study at a cost of US$10 million this year on building a deep-sea port in Bangladesh, officials said Wednesday.

The Dubai-based world's third largest port operator presented its investment plans before the Principal Secretary to the Prime Minister at the Prime Minister's Office (PMO) on the day.

"The UAE-based company wants to conduct feasibility study first. Based on the study, the company will work out the investment and project implementation plans," said Jamal Abdul Naser, Chief Executive Officer of the Deep Seaport Cell of the government.

He said the DP World has not presented details as they would rely on their proposed feasibility study for setting up the deep-sea port in the Bay of Bengal.

The Dubai-based company had also proposed development of the New Mooring Container Terminal at Chittagong Port and an Inland Container Depot (ICD) in Gazipur in its proposal Wednesday.

According to the proposal, the DP World will build the deep-sea port in Bangladesh forming a joint-venture company with the government, said a member of the high-powered government committee, present at the meeting at the PMO Wednesday.

The Dubai-based company and the Bangladesh JV will operate the deep-sea port for 50 years, the DP World proposal said.

The DP World in its presentation said if the Bangladesh government agrees to their proposals for developing the container terminal, ICD and the deep-sea port then they are ready to sign a Memorandum of Understanding (MoU) shortly, said the official who preferred anonymity.

"Now the Principal Secretary-led committee will review all the three proposals of the UAE, the Netherlands and China for setting up the deep-sea port.  Then they will place those to the Prime Minister for her decision," said the official.