The Bangladeshi Ministry of Shipping has appointed Red Sea Gateway Terminal (RSGT) to operate the new 500,000 TEU Patenga Container Terminal at Chittagong Port.
RSGT said it will equip and operate the terminal on the basis of a long-term concession from the Chittagong Port Authority (CPA), subject to the completion of a formal procurement and negotiation process and approvals by the relevant authorities.
The operator was officially advised of the decision on 28 July.
“We are extremely pleased to have been selected for this opportunity,” said RSGT’s Director of Global Investments, Gagan Seksaria.
“The rapid growth of Chittagong Port’s cargo volumes necessitates further investment in modern equipment, advanced technology and building new human capacity.
“This project fits well with Red Sea Gateway Terminal’s competencies and its expansion strategy for emerging markets. We are very confident that, through this investment, we will be able to contribute significantly to Bangladesh’s fast-growing trade and economy.”
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The $240 million newly-built terminal is located in Bangladesh’s main seaport Chittagong, the first planned terminal at the port since New Mooring Container Terminal (NCT) in 2007.
The Port of Chittagong (recently renamed as Chattogram), handled a record 3.2 million TEU in FY 2021, with 4,209 vessel calls, and is the busiest port in the Bay of Bengal, serving as the gateway for 90 per cent of Bangladesh’s import and export ocean cargo.
Last month, the CPA announced it would start trial operations at the new Patenga terminal on 21 July – although the Ministry of Shipping was yet to find a terminal operator.
CPA had been appointed to run operations during the initial phase only, as the relevant authorities had decided to hand full operations over to a foreign operator under a public-private partnership.
Four other terminal operators had previously shown interest in the new terminal alongside RSGT – A.P. Moller – Maersk (Maersk), Dubai Port World (DP World), Adani Port and Special Economic Zone Ltd and PSA International.