Singapore's PSA keen on Ctg Port Bay Terminal: Regional CEO

Singapore's PSA International, a leading global port operator and supply chain partner to cargo stakeholders, has expressed its interest in being involved in the construction of a Bay Terminal in Chattogram Port. As part of that interest, Wan Chee Foong, regional CEO of PSA for Middle East and South Asia and head of Group Business Development, visited Dhaka in early July. The Business Standard's Senior Correspondent Reyad Hossain had an exclusive interview with Wan who shed light on his company's interest in Bangladesh.

How far is the process of Bay Terminal's plan to realise the project?

PSA has been working with the government of Bangladesh very closely including the concerned ministry and Chittagong Port Authority (CPA) to design and develop the new Bay Terminal project. 

There is an initial design and a feasibility study, and soon, the government master plan will be finalised for the process to proceed. The commitment from all parties from Bangladesh and Singapore to complete the project is very strong. This is also a chance for PSA to leverage its experience and provide input into the process and ensure a successful project.

Readymade garments comprise a very large proportion of the exports and is in line with the government's objectives to diversify the economy and exports. 

This is one way PSA hopes to invest and contribute to the logistics developments and catalyse manufacturing and other sectors to grow in Bangladesh.

How do you describe the importance of the overall logistics sector including port management and capacity for a growing economy like Bangladesh?

There is a significant opportunity to not only develop the seaport but also support logistics facilities and connectivity to the hinterland. There is a need to ensure an efficient logistics ecosystem extending all the way inland into factories in the industrial zones as well as to consumer centres.

PSA has the experience to increase the scale and capability of the Bay terminal project. It can help to design logistic solutions for industries in order to ensure that they are competitive with other players around the world… We want to participate in the growth story of Bangladesh.

Would you please describe PSA's interest in Bangladesh and how it would benefit the Bangladesh economy?

PSA's focus in Bangladesh is in line with the government's objectives to upgrade and modernise port facilities to drive the next stage of Bangladesh's growth story. A global company with experience in different markets and different operating models can create great value in port management in Bangladesh.

There is also an opportunity to modernise the logistics infrastructure, introduce digitisation, and reduce the amount of manual work and use of paper across the supply chain, not just in physical handling but including transactions and documentation.

A large part of PSA's work will be concentrated towards enhancing the trade of all export-oriented industries of Bangladesh and at the same time provide logistics solutions to increase export diversification of Bangladesh and increase investment to other sectors of the economy.

How would PSA improve port and logistics efficiency in Bangladesh?

The development of the Bay Terminal project will lead to an enhanced network between Chattogram connecting Bangladesh and the rest of the world.

Chattogram Port handled around 3 million TEUs in 2022. With the completion of the Bay Terminal, the port will be able to receive vessels that are twice the current capacity, from around 2,500 TEUs to about 5,000 TEUs vessels. 

PSA wants to ensure that the port is a multi-user facility that will be open to different kinds of customers from large to small shipping lines, exports, and imports. 

It is also important to ensure that logistics costs are competitive in the country. This will catalyse the growth of exports and drive imports.