New terminal capacity in Bangladesh

Chittagong Port Authority and the China Harbour Engineering Group have signed an agreement for the construction of the New Mooring Container Terminal at the port. Phase I, which will involve the building of a 1000 metre long quay and associated container terminal, will require development of a 22ha site at a cost of $58m, although the entire project will eventually cost $131m to implement. Work began on in February and is scheduled to last 30 months. The 500,000TEU capacity terminal will be able to accommodate up to five feeder vessels at any one time and is forecast to generate $35m/year in income.