UK co’s $ 800m plan to develop Mongla port

UK co’s $ 800m plan to develop Mongla port

Mongla Port. Source: http://www.mpa.gov.bd/

FE Report

A British company has submitted a US$ 800 million plan for the development of Mongla port to make it an efficient transit port which will cater to the need of the neighbours.

Port Evolution Management Company in its development plan said that the project will include a container terminal, an oil terminal, a water treatment plant and a special economic zone with its own 300-450 megawatt (mw) power plant.

The company Thursday made a presentation at the shipping ministry where Shipping Minister Shahjahan Khan, Secretary Abdul Mannan Howlader, British High Commissioner Stephen Evans, Chairman of Port Evolution James Sutcliffe and other officials were present.

The shipping minister said importance of Mongla port is immense as Nepal and Bhutan will use it as a transit port.

“We will evaluate the proposal and take further decision,” he said adding “it will be done through public private partnership (PPP).”

The ministry signed an agreement a year back and the company, after evaluating all the aspects, submitted the proposal.

Howlader said under the PPP, the government will provide land and logistics and other development works will be done by the private party.

Port Evo is a worldwide company specialised in Greenfield port development and its achievements include a current $ 300 million development project in Nigeria, development of Poland’s largest deep-sea container terminal in 2007 and ownership and operation of some successful ports of UK.

source:http://www.thefinancialexpress-bd.com/more.php?news_id=117412&date=2010-11-12