The Executive Committee of National Economic Council (ECNEC) has approved the long-anticipated Bay Terminal Marine Infrastructure Development Project (BTMIDP) in Chattogram, with an estimated cost of Tk 13,525.57 crore.
The project is a major step toward enhancing Bangladesh’s maritime trade capacity.
The approval came during an ECNEC meeting held on Sunday at NEC Conference Room, chaired by ECNEC Chairperson and Chief Adviser Professor Muhammad Yunus.
The committee approved a total of 16 projects in the session, involving an overall estimated cost of Tk 24,247.24 crore. Of this total, Tk 3,001.34 crore will be financed by the government, Tk 16,719.73 crore through project loans, and Tk 4,526.17 crore from the implementing agencies' own funds. Among the approved projects, 13 are new while three are revised.
Briefing reporters after the meeting, Planning Adviser Professor Dr Wahiduddin Mahmud said the Bay Terminal project had been under discussion for years and is finally set to begin. He emphasized the need to expand port facilities in Chattogram to support growing trade activities and maintain the port’s strategic significance.
According to the plan, Terminal-1 of the Bay Terminal will be built by the Singapore-based PSA under a Public-Private Partnership (PPP) agreement, while Terminal-2 will be developed by UAE-based DP World.
The World Bank will provide Tk 9,333 crore in loan assistance for the Bay Terminal project, enabling critical investments in infrastructure. The development is expected to significantly enhance Bangladesh’s competitiveness in global trade, reduce import-export costs, and attract further private investment.
The marine infrastructure project will include construction of a six-kilometer climate-resilient breakwater to shield the harbor from waves and extreme weather. It also involves extensive dredging of the port basin, access channels, and entrance to support larger vessels.
Once operational, the modern terminal will be capable of accommodating Panamax-class vessels, vastly reducing turnaround times. This marks a major upgrade from the current limitations of Chattogram Port, which primarily handles smaller feeder vessels during restricted time windows.
The terminal will be located in the Anandanagar-Sandwip channel area, near existing road and rail links to Dhaka, and is expected to manage 36 percent of the country’s container volumes. Over one million people, including a significant number of women, are projected to benefit directly from the improved transport and trade facilities.
The International Finance Corporation (IFC), the private sector wing of the World Bank Group, is also considering investment in one of the proposed terminals, signaling broader international interest in the project.
In the 2023–24 fiscal year, the World Bank committed a record $3.4 billion in support to Bangladesh, which includes this strategic infrastructure project.
In addition to the Bay Terminal initiative, ECNEC approved other key projects including the Bangladesh Sustainable Recovery, Emergency Preparedness and Response Project (B-STRONG), the Chattogram Water Supply Development Project, and the Livable and Inclusive Cities for All (LICA) Project, among others.
Notably, the Drilling of Two Deep Exploratory Wells at Titas and Bakhrabad Fields was approved for the first time through PPS software under the interim government’s tenure.
Two projects also received approval for time extensions.
