Laldia Terminal to Be Milestone in Building Trillion-Dollar Economy: Finance Minister

Finance and Planning Minister Amir Khosru Mahmud Chowdhury has said the Laldia Container Terminal at Chattogram Port will be a major milestone in building a trillion-dollar economy. Chattogram will become an investment and logistics hub for the entire region, he said.

He made the remarks as the chief guest at the foundation stone-laying ceremony of the Laldia Container Terminal project at Chattogram Port on Sunday. It will be the port’s first terminal involving foreign investment. Danish company A.P. Moller is investing US$550 million in the project to operate the terminal for 30 years.

Once operational, the terminal will be able to accommodate vessels with a capacity of around 6,000 TEUs. It will be capable of handling more than 800,000 TEUs annually, increasing the port’s overall container-handling capacity by an expected 23 percent.

Addressing the ceremony, Amir Khosru Mahmud Chowdhury said the port is at the heart of Chattogram and economic activities in the city revolve around it. Bangladesh has an elected government, while the private sector runs the economy, he said. The government’s role is to support the private sector.

“To achieve our goals, we need the best business policies, investment policies and logistics support,” he said. Turning Chattogram into a logistics hub is a goal not only for Bangladesh but also for the region. The potential of Chattogram Port must be fully utilised, he said.

He expressed hope that the terminal would be completed within the scheduled timeframe and assured government support. “We want to open our doors to the world—not only as a logistics hub but also for all kinds of investment,” he said.

The finance minister said several more ports and economic zones would be developed in Chattogram. Regarding the demand to make Chattogram the country’s commercial capital, he said, “A commercial capital cannot be made; it becomes one.” Increased economic activity would eventually make Chattogram the commercial capital, he said.

He added that the latest initiative would take Chattogram’s potential to contribute to Bangladesh’s economy another step forward.

Shipping Minister Sheikh Rabiul Alam, speaking as a special guest, said the country was entering a new era of investment, technology and terminal handling. The PPP project involves major investment and will be capable of handling 800,000 TEUs annually.

The terminal will have modern facilities, he said. The project would also help establish international confidence in Bangladesh as an investment destination. He said several others were interested in investing in the modernisation of Chattogram Port.

“Discussions are underway, with the national interest being given priority,” he said. Laldia would also show how a modern terminal should be operated, he added. His ministry would provide all necessary support for the project.

Danish Ambassador to Bangladesh Christian Bricks Moller said Denmark is a close economic partner of Bangladesh and is always interested in working together for the country’s progress. The Laldia Terminal project sends a message that Bangladesh is open to investment and trade, he said.

APM Terminals CEO Ramesh David said the project represents several firsts. It will be the first PPP project, the first direct foreign investment and the first greenfield terminal. New and modern technologies will be used there.

Chattogram Port Chairman Rear Admiral S. M. Moniruzzaman said 95 percent of the country’s imports and exports pass through Chattogram Port. Port management is changing rapidly worldwide, while APM Terminals has extensive experience in international-standard port management, he said.

“You will see its reflection at Laldia within three years,” he said. Laldia will be the first terminal to operate 24/7, he added. Ships with twice the container-carrying capacity of those currently handled by the port will be able to berth at the terminal.

The ceremony was also addressed by Mr. Zakaria, secretary of the Ministry of Shipping, and Jack Craig, Global Head of Operations at APM Terminals.