Foreign co inks accord for facelift of Mongla Port
Thursday, 3 December 2009
FE Report
A Singapore-based company will invest US$ 3 billion in Mongla Port for the development of the ailing seaport.
Mongla Port Authority has signed an agreement with the private company at the Shipping Ministry in this regard Wednesday.
Under the agreement, David Wignall Associates, which modernised Penang Port in Malaysia and Bali Port in Indonesia, would set up all modern facilities, including power plant, water treatment plant, industrial park, jetty and a massive container terminal at Mongla Port.
The move would create tens of thousands of new jobs, assist in poverty alleviation and improve social indicators as well as accelerate economic growth in southwestern Bangladesh. It would also increase government's revenue by expanding port use for the transit trade of India, China, Nepal and Bhutan, port officials said.
In late 90s, over 300 ships berthed at the port every year, the number reduced by 50 per cent in recent times due to lack of port infrastructure.
Shipping Minister Shahjahan Khan told reporters during the MoU (memorandum of understanding) signing ceremony that the ministry had selected the company for its experience in seaport development.
He said the port remained neglected for the last seven years causing downward trend in trade volume and earnings. It has lost its competitiveness as it failed to adapt to modern development such as building container terminals, procurement of necessary equipment to lessen unloading time and lowering waiting period for vessels.
"But the government is committed to make it a vibrant port as per election promises," he said.
Mr Shahjahan said after completion of the 20-year project the port would be a regional focal point for creating employment, increasing trade volume and contributing to the exchequer.
"The government selected the foreign company on the basis of PPP (Public-Private Partnership) and BOT (Build, Operate, Transfer) method," he said.
According to the MoU, the company would prepare and submit a detailed report to the ministry within a year. "If the report convinces the government, then the company will be awarded the mega project," he said and added, "The government will not allow any project detrimental to the country's interest."
David Wignall, managing director of the company, said they will try their level best to turn the port into a busy and a model regional hub.
"We are committed to improving the quality and capability of the port's infrastructure to ensure that it can contribute significantly to the country's financial development, whilst optimising environmental and social impacts."
END-Jubair
A Singapore-based company will invest US$ 3 billion in Mongla Port for the development of the ailing seaport.
Mongla Port Authority has signed an agreement with the private company at the Shipping Ministry in this regard Wednesday.
Under the agreement, David Wignall Associates, which modernised Penang Port in Malaysia and Bali Port in Indonesia, would set up all modern facilities, including power plant, water treatment plant, industrial park, jetty and a massive container terminal at Mongla Port.
The move would create tens of thousands of new jobs, assist in poverty alleviation and improve social indicators as well as accelerate economic growth in southwestern Bangladesh. It would also increase government's revenue by expanding port use for the transit trade of India, China, Nepal and Bhutan, port officials said.
In late 90s, over 300 ships berthed at the port every year, the number reduced by 50 per cent in recent times due to lack of port infrastructure.
Shipping Minister Shahjahan Khan told reporters during the MoU (memorandum of understanding) signing ceremony that the ministry had selected the company for its experience in seaport development.
He said the port remained neglected for the last seven years causing downward trend in trade volume and earnings. It has lost its competitiveness as it failed to adapt to modern development such as building container terminals, procurement of necessary equipment to lessen unloading time and lowering waiting period for vessels.
"But the government is committed to make it a vibrant port as per election promises," he said.
Mr Shahjahan said after completion of the 20-year project the port would be a regional focal point for creating employment, increasing trade volume and contributing to the exchequer.
"The government selected the foreign company on the basis of PPP (Public-Private Partnership) and BOT (Build, Operate, Transfer) method," he said.
According to the MoU, the company would prepare and submit a detailed report to the ministry within a year. "If the report convinces the government, then the company will be awarded the mega project," he said and added, "The government will not allow any project detrimental to the country's interest."
David Wignall, managing director of the company, said they will try their level best to turn the port into a busy and a model regional hub.
"We are committed to improving the quality and capability of the port's infrastructure to ensure that it can contribute significantly to the country's financial development, whilst optimising environmental and social impacts."
END-Jubair