By IANS,
Dhaka : Bangladesh will begin construction of a new deep sea port by 2010-end that it says will boost the country’s economy and help the entire South Asian region gain access to the sea.
The cabinet was informed Wednesday said that Japan’s Pacific Consultation International, in association with four other firms, conducted the feasibility study, and finally selected Sonadia Island as the best site for the deep-sea port.
“The port will come into operation in the fiscal year 2016-17, as we hope to complete construction of the first phase by 2015 at a cost of 13,000 crore taka ($1.89 billion),” Shipping Minister Mohammad Afsarul Amin said after the meeting.
The second phase will be completed in 2035 at a cost of Tk 26,000 crore, and it will turn into a modern full-fledged international port with the completion of the final phase of construction by 2055. The final phase will cost Tk 1,100 crore.
Afsarul Amin said it will take a year to have a complete design of the port, adding that the project will be sent to the Economic Affairs Division before its submission to the cabinet.
“The carrying cost of both incoming and outgoing goods will come down significantly as the port will become a regional hub handling a massive traffic,” said the shipping minister.
With its major river ports Chittagong, Khulna and Mongla being affected by silting, Bangladesh has been seeking to build a deep sea port.
According to the feasibility study, 16 container berths including nine international jetties will be constructed in the first phase.
The minister had earlier said the project will be implemented with public-private joint investment, and if necessary, funds raised from the capital market.
The shipping ministry took up the deep-sea port construction as a priority project in 2004 following a letter issued by the Prime Minister’s Office. An inter-ministerial committee later decided to carry out a techno-economic feasibility study in 2005.