CHATTOGRAM, Oct 18: The cost of Matarbari Deep-sea Port at Moheshkhali, Cox's Bazar, has been revised up by 37 per cent or Tk 65.73 billion.
The project cost has now stood at Tk 243.81 billion after the first revision that saw a slight rise to Tk 178 billion from the initial outlay of Tk 177 billion.
However, the period of the country's first and only deep-sea port project has also been extended by three years until December in 2029.
The interim government also extended the duration of the project by three years in the meeting of the Executive Committee of the National Economic Council (ECNEC) on October 07.
With Chief Adviser Dr Muhammad Yunus in the chair, the meeting approved the Matarbari Port Development for second revision with this additional cost.
Sources said the government has selected Matarbari port as one of the significant projects of the country to strengthen trade connectivity.
With the development of the country's first deep-sea port, Bangladesh is undergoing economic transformation through strengthening its trade connectivity with the rest of the world.
Currently, the under-construction port holds immense strategic significance for Bangladesh.
According to sources at Chittagong Port Authority (CPA), the project was undertaken during the Awami League government for completion by 31 December 2026.
The state-owned Coal Power Generation Company Bangladesh Limited handed over the responsibility of Matarbari port channel to the CPA on 20 September 2023.
The CPA is preserving and controlling the channel. It is also collecting port dues and berth hire charges, piloting, tug charges, berthing and other charges.
Sources said Matarbari port was originally built for Matarbari coal-fired power plant. Later, the government decided to turn it into a deep-sea port.
To this end, the CPA signed an agreement with Nippon Koei Company on 23 September 2020. Formally, they started work from November 16.
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