The long-anticipated economic game changer for Bangladesh—the Matarbari Deep Sea Port— is finally poised to become a reality, as construction work on the Tk 24,000 crore project will begin soon.
To that end, a contract signing ceremony is scheduled to take place in Dhaka on April 22 with two Japanese construction firms—Penta-Ocean Limited and TOA Corporation.
The project is being implemented under the supervision of the Chittagong Port Authority at Matarbari in Maheshkhali, Cox's Bazar.
According to sources from the Chittagong Port, the project is divided into three packages. Under the first package, a multipurpose terminal and a container terminal will be constructed, at a cost of Tk 6,000 crore. The port will be capable of accommodating vessels carrying between 80,000 to 100,000 TEUs (twenty-foot equivalent units) of containers with ease. This is expected to significantly reduce import-export costs and time.
The project, which was launched during the previous government’s tenure, was initially estimated to cost around Tk 18,000 crore.However, due to land complications and other factors, the cost increased by an additional Tk 6,000 crore, making the total estimated cost Tk 24,000 crore.
Although the project started under the name "Matarbari Port Development Project," it is actually a deep sea port, as ports capable of hosting vessels with a 14-meter draft are classified as deep sea ports.
The current project includes the construction of the channel, terminal, and essential infrastructure, along with the procurement of handling equipment and road development.
Md Omar Faruk, Secretary of the Chittagong Port Authority, stated that construction of the two terminals is expected to be completed by 2029. The entire Tk 6,000 crore funding for the first package is being provided by the Japan International Cooperation Agency (JICA), and the contract process is being carried out in their presence.
The Chittagong Port Authority notes that due to the growth in the country’s import-export trade, it has become difficult for the Chittagong Port to manage the increased pressure alone. The current infrastructure at the main seaport no longer has the capacity for further expansion which is why attention has been shifted towards the development of a new port.
Furthermore, with the country’s new economic zones expected to go fully operational soon, the volume of industrial imports and exports is likely to rise substantially. In that context, the Matarbari Deep Sea Port will become essential.
After meeting domestic demand, it could even facilitate cargo transport for neighboring countries on a commercial basis, potentially evolving into a transshipment hub like the Port of Colombo.
Experts say that due to limited channel depth, the Chittagong Port currently cannot accommodate large vessels with a 10-meter draft.
In contrast, the Matarbari Port will initially handle ships with a 16-meter draft and later expand to 18 meters.
It will be able to accommodate ships four to five times larger than those currently docking at Chittagong.
Initially, the port will have a container handling capacity of 0.06 to 1.1 million TEUs annually, eventually increasing to 1.4 million to 4.2 million TEUs. Currently, the Chittagong Port handles around 3 to 3.2 million TEUs per year.
Bd-pratidin English/ Afia
