The Bangladesh Railway is reconsidering implementation of the Dhirasram Inland Container Depot development project under the public-private partnership (PPP) model to attract investment from a foreign firm.
Officials said the Dubai-based DP World was interested in investing $1.2 billion in port, rail and airport connectivity and sent a concept paper to the PPP Authority in January 2020.
The paper also hinted at investment in different phases keeping depot development, and operation and management in the second phase.
According to the officials, the BR is considering again the PPP option for construction of the Dhirasram depot in Gazipur.
In a meeting last month, the Prime Minister's Office also sought a specific proposal from DP so that Bangladesh could place specific projects under the PPP under a government-government arrangement.
Earlier, the BR decided to implement the Dhirasram project with Japan's support after its first PPP initiative under the G-to-G arrangement did not work.
The company picked by Japanese land infrastructure, transport and tourism ministry was refused by the BR for not having its proposal viable.
The railway undertook an estimated $500-million project in 2013 with a completion target by 2017.
However, the project could not be started yet for a lack of funds and good investors.
A BR official said the scheme was still in the PPP list, although they tried to get funds from other sources.
"We're in a hurry to complete the Dhirasram project to shift Kamalapur ICD to facilitate implementation of another PPP project planned for development in the entire Kamalapur station area."
The PPPA has already completed feasibility study on the Dhirasram ICD terminal finding its capacity to handle 354,000 twenty-foot equivalent units.
The depot has been planned for development on 55 hectares of land.
Apart from the BR project, PPPA sources said, they expected projects from the Chittagong Port Authority as a meeting with the agencies concerned was held in February after getting the DP's concept paper.
The PPPA has been discussing with the Dubai company its investment potential under the PPP through the Bangladesh-UAE joint platform meeting in 2019 twice.
smunima@yahoo.com