The Executive Committee of the National Economic Council (Ecnec) approved a project to double the cargo handling capacity of Mongla Port and quadruple its container handling capacity.
The estimated cost for the Capacity Enhancement Project for Mongla Port is Tk6,014.62 crore.
The project was approved at Tuesday's Ecnec meeting in the National Economic Council's Auditorium in Dhaka – presided over by Prime Minister Sheikh Hasina.
Planning Minister MA Mannan presented details about the approved project after the meeting.
The minister said, "The project has provisions for two container terminals, a container handling yard, a container delivery yard, a vessel jetty and some other infrastructure to be built.
India's Exim bank will provide Tk4,459.41 ($530 million) to implement the project, and the remaining amount will come from the government's own funds.
Implementation of the project would add the capacity for 15 million more tonnes of cargo and four lakh twenty-foot equivalent units."
The minister said that Ecnec approved nine projects at an estimated cost of Tk13,639 crore.
The government will provide Tk8,886.44 crore of its own funds and the implementing agencies will bear Tk293.41 crore.
The remaining amount will be provided by foreign sources such as project loans.