The lender said on Friday that the Bay Terminal will significantly improve Bangladesh's global trade competitiveness and reduce import and export costs by increasing port operational efficiency and mobilizing private investment.
The government plans to develop two container terminals, a multipurpose terminal and an oil and gas terminal under the bay terminal, Xinhua news agency reported.
The World Bank had previously promised to finance the Bay Terminal Marine Infrastructure Development Project, under which a 6-kilometre-long climate-resilient breakwater will be constructed to protect the port from the impact of waves, current and extreme weather. It will also carry out dredging of the port basin, entry and access channels, the press release said.
The bay terminal, located at Anandanagar near the Sandwip Channel, west of Chattogram port, and close to Dhaka's existing road and rail links, is expected to handle 36 percent of Bangladesh's container volume.
The government plans to develop two container terminals, a multipurpose terminal and an oil and gas terminal under the bay terminal, Xinhua news agency reported.
The World Bank had previously promised to finance the Bay Terminal Marine Infrastructure Development Project, under which a 6-kilometre-long climate-resilient breakwater will be constructed to protect the port from the impact of waves, current and extreme weather. It will also carry out dredging of the port basin, entry and access channels, the press release said.
The bay terminal, located at Anandanagar near the Sandwip Channel, west of Chattogram port, and close to Dhaka's existing road and rail links, is expected to handle 36 percent of Bangladesh's container volume.
