An Indian firm has bagged a contract for providing consultancy for a capacity building project at Mongla port, the second largest seaport in Bangladesh, which will boost sub-regional connectivity in South Asia.
The contract was signed between Mongla Port Authority and EGIS India Consulting Engineers Pvt Ltd earlier this week.
While India will provide the majority finance for the project under its concessional line of credit of $4.5 billion to Bangladesh, the Sheikh Hasina government will provide the rest. The project is scheduled to be completed by July 30, 2024.
The project includes constructing a container terminal, handling and delivery yards, a residential complex and community facilities, marine workshop and service jetty, according to Bangladesh officials. Once upgraded, the Mongla port will serve the business interests of eastern India, north-eastern states and Southeast Asian countries, said officials.
Bangladesh state minister for shipping Khalid Mahmud Chowdhury was present at the signing of the contract. High Commissioner of India to Bangladesh Pranay Verma highlighted that Bangladesh is India’s largest development partner, both in terms of value and number of projects. Nearly one-fourth of India’s development assistance abroad is extended to various projects across sectors in Bangladesh.
The upgradation of Mongla port will strengthen maritime connectivity for Bangladesh, not just for the movement of goods with India but also with Bhutan and Nepal, said officials here.