The New Nation - Internet Edition

Chittagong Correspondent

The Shipping Ministry has decided to lease out the newly built New Mooring Container Terminal (NMCT) to a private operator for at least 30 years with a view to ensuring its smooth maintenance and operation.

The advisory council on August 18 approved the leasing of the NMCT to a private firm on the recommendation of the Chittagong Port Authority (CPA), sources in the CPA said.

The NMCT will be leased out on the basis of "Supply, Operate and Transfer (SOT)" under Bangladesh Private Sector Infrastructure Guideline 2004, according to sources.

Earlier, an eight-member expert-committee led by the then Chairman of Chittagong Port Authority (CPA) Commodore M Farouque drafted the leasing outline.

As part of its port reform and modernisation strategy, the government plans to develop and operate the port through private sector participation to increase its efficiency and reduce the cost of the port users. sources added.

The CPA has floated international tender (pre-qualification) on August 25 inviting applications from interested firms having the requisite qualifications and experience as well as investment capabilities for this purpose.

Copies of the tender have already been sent to Bangladesh foreign missions for facilitating the participation of foreign bidders of international repute. A short-list of qualified applicants will be prepared from among the applicants.

Messrs China Harbor Engineering Company built the terminal at a cost of Taka 5038.30 million with the CPA's own funding.