CHATTOGRAM, Nov 21: The Chattogram Port Authority (CPA) is now set to lease out the Patenga Container Terminal (PCT) to a foreign operator.
The initiative has a twofold benefit - ensuring a healthy competition among terminal operators and making international-standard services available for port users.
Sources said the CPA is opting for a foreign operator for the first time in Bangladesh to run the PCT.
Consequently, the operation of more CPA terminals will go to foreign operators in phases.
Meanwhile, Prime Minister Sheikh Hasina inaugurated the PCT through a virtual programme on November 14.
Sources said the Red Sea Gateway Terminal (RSGT) of the Kingdom of Saudi Arabia (KSA) would operate the newly constructed terminal as shipping ministry has categorically finalised the decision.
CPA secretary Omar Faruk said, "The Private-Public Partnership (PPP) Authority is dealing with the matter of appointing an operator. As we know, the ministry will make the final decision."
Meanwhile, the CPA has appointed the International Finance Corporation (IFC) as a transaction adviser for proposing terms and conditions to appoint the operator.
"After submitting the report of IFC," Mr Faruk said, "we'll finalise the decision about the PCT operator."
"The PCT is ready for operation. The function is delayed for the appointment of an operator now. I hope PCT is likely to start its formal operation this year."
But it will take months to bring equipment for the full-scale operation of the terminal. Until the appointment of an international operator, the CPA is managing the ship handling operations.
Following government-to-government negotiations between Bangladesh and Saudi Arabia, sources said, a memorandum of understanding was signed between the RSGT and the shipping ministry in 2019.
A total of five operators - AP Moller-Maersk, RSGT, Dubai Port World, Adani Port and Special Economic Zone Ltd, and PSA International - showed interest in the new terminal.
Sources said the PCT is equipped with modern handling equipment like key gantry cranes (KGC) and rubber gantry cranes (RGC).
Vessels can be berthed in the PCT within a short time because the terminal is very close to the estuary of the Karnaphuli.
The PCT is sited on 32 acres of land with three berths of total 600 metres in length. Three vessels with more than 9.5-metre draft are able to take berth at a time.
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