In a monumental stride towards fortifying the Bangladesh port sector, APM Terminals, the port operating subsidiary of Denmark’s Maersk Group, has received the green signal from the Bangladesh government to initiate the construction of a cutting-edge container terminal in Laldiar Char, Chittagong. This transformative endeavor, set to unfold on a sprawling expanse of 215,000 square meters of char land, emerges as a critical component of Bangladesh’s mission to modernize its port infrastructure and bolster trade capabilities.
The visionary terminal is designed with the capacity to handle an astounding 1.2 million TEUs annually, underlining its instrumental role in enhancing Chittagong Port’s throughput. As a beacon of progress, this terminal promises to fortify trade channels, stimulate economic growth, and catalyze job creation within the region.
Dovetailing with the trajectory of development, the APM Terminals-Laldiar Char initiative aligns itself with Bangladesh’s aspiration to privatize its port assets. Set to be operational by 2027, the terminal is estimated to require an investment of US$400 million for its establishment. It’s an investment that not only ushers in infrastructure modernization but also ushers in a new era of competitiveness and enhanced services.
Under the terms of the build-own-and-operate agreement, APM Terminals assumes a multifaceted role that spans financing, construction, operation, and maintenance of the terminal. This holistic approach underscores the company’s commitment to driving efficiency and excellence at every phase of the terminal’s life cycle.
This pivotal step towards modernization and privatization is mirrored in the government’s decision to entrust the management of the Patenga Container Terminal in Chittagong to Saudi-based Red Sea Gateway Terminal, further solidifying the intent to inject competition and innovation into Bangladesh’s port ecosystem.
For Bangladesh, this landmark deal yields multifarious advantages. The newfound terminal’s augmented capacity positions Chittagong Port as a preeminent trade hub. Furthermore, the ensuing job opportunities and economic stimulation are poised to generate a ripple effect, nurturing prosperity throughout the region.
By inviting foreign investment and expertise into the port sector, Bangladesh orchestrates a narrative of progress and development. The move is poised to streamline port operations, optimize efficiency, and offer tangible benefits to both domestic and international stakeholders.
The APM Terminals-Laldiar Char pact is emblematic of an evolution that is both transformative and synergistic. As Bangladesh strives to transcend boundaries, this alliance augments APM Terminals’ footprint in Asia while ushering in a new era of modernization and advancement for the nation’s port sector.
