Bay Terminal project gets 500 acres of land at token price
The project will have a container handling capacity six times more than the Chattogram Port
After getting an allocation of only 67 acres of land seven years ago, the Bay Terminal project, designed to boost the country's container handling capacity, has now been allocated an additional 500 acres of land — a significant development that will expedite the implementation of the project, said officials concerned.
The Chattogram Port Authority is going to receive 500.7 acres of government land at a token price of Tk3 crore and 3. The land ministry on 11 February approved the land allocation.
The port authorities will have to pay the money within 90 days of receiving the official letter.
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The port officials say the allocation of land is a major breakthrough for the Bay Terminal project, which will have a container handling capacity six times the Chattogram Port's existing capacity. The remaining land required for the project is also in the process of being allocated. Port officials are hopeful that all land will be allocated by June 2024.
Chattogram Port Authority Secretary Md Omar Farooq told TBS that they are hopeful that the remaining land will be allocated soon.
According to the port authorities, the Bay Terminal project is being built on 2,500 acres of land on the coast of the Bay of Bengal at Patenga of Halishahar area, six kilometres from the Chattogram Port.
The Chattogram Port has already acquired 66.85 acres of privately-owned land through the acquisition process.
The process of allocating 124 acres of land belonging to the Forest Department through the land ministry for the Bay Terminal project is in the final stages.
In addition, 188 acres of land claimed by various individuals are under the acquisition process of the district administration. The remaining 1,620 acres of land will be reclaimed from the sea.
In July of last year, the district administration determined the value of 500 acres of land, located at Patenga, Agrabad, and Kattoli, to be Tk1,241 crore. However, a Chattogram Port's application to receive the land for a token price was sent to the Prime Minister's Office through the land ministry.
Mohammed Shafiqul Alam Jewel, vice chairman of the Bangladesh Shipping Agents Association, said, "The land allocation is undoubtedly a major breakthrough. Once this new port starts operating, import-export trade in Bangladesh will be more dynamic."
The Bay Terminal project – which will have four terminals – is set to start implementation this year, with a target to start partial operation in 2026.
The Chattogram Port expects a substantial $11.5 billion in foreign investment in 2024 to construct the Bay Terminal.
