Construction work of setting up inland container terminals (ICTs) around the capital have slowed down in recent times as the private investors are doubtful about their business prospects, insiders said.
Operators of the river-based ports are now adopting a wait-and-see policy because of the inordinate delay in the process for making or bringing vessels to accelerate container transportation from the Chittagong and Mongla ports to the capital and its adjacent areas.
Not only that, foreign financial institutions, which were showing immense interest to finance the waterway infrastructure projects earlier, have turned away from such projects finding no visible progress on the issue of container-carrying ships.
Four local groups - Rupayan, Summit, AK Khan and Kumudini Welfare Trust - came with a large amount of investments before 2010 as waterways became main focus of diversifying the country's transport industry, amid crippling congestion in the over-stretched road network.
Talking about the issue, Senior General Manager (construction) of Rupayan Port and Logistic Services Ltd Engineer Khairul Alam said they have slowed down the construction activities for building ICT as most private companies that were issued licences for importing or making container vessels are yet to make any worth mentioning progress.
"If there are not enough container-carrying vessels once the terminal is built, then what will we do with the ready infrastructure?" he said.
Rupayan Group, one of the country's leading real estate companies, came to the industry with Tk 3.50 billion investment in 2009, as waterways came to spotlight for transporting cargoes.
"Although we've completed 75 per cent of constructing jetty in the terminal and we have a plan to inaugurate the infrastructure commercially within June, 2015," he said.
German bank DEG, which has been financing private-sector investments in the developing countries, had shown keen interest in making the terminal and made a study on the issue.
"They (DEG) talked about the progress of container vessels, engine of the business. But we're yet to get their study report even after the deadline has passed," he said.
He said the terminal, the largest one now being built with a capacity of 250,000 TEUs (Twenty-foot Equivalent Units) in Narayanganj, will have container scanner for customs checking and the radiation monitoring system, considering the United States' requirement, as the country is the key destination for local exports.
"We're now maintaining a go-slow policy as return of the investment largely depends on container ships. We'll have to repay a large amount of money in the form of bank interest if the infrastructure remains unused," said Director of Summit Alliance Port Limited (SAPL) Captain Asif Mahmood.
Seeking anonymity, a senior official of AK Khan Container Terminal said they will go for making investment in full swing after seeing positive signs on container vessel issues.
He said the government awarded licences to 32 private companies in 2010 for making or bringing vessels. "But only a few licence holders give orders for making ships after three years. I don't know how much time they will take for making ships," he added.
On the other hand, Kumudini Welfare Trust recently appointed an Indian consultant for setting up the key waterway infrastructure.
A consultant and Managing Director of Shipwrights Resources Limited (SRL) Mahboob Ahmed said the government should abolish the licence system in the business and allow terminal operators for bringing ships as it did for Pangaon ICT.
He said the licences were given to the firms mostly having little knowledge about the shipping industry, causing the inordinate delay in bringing ships.
"Many resourceful and capable investors will come to the sector after making feasibility study if the government lifts the licensing system," he added.
According to a study, the number of container transportations to Dhaka and its adjacent areas will soar to 1.35 million TEUs by 2014 when the railways can hardly carry only 0.1 million TEUs.
