DP World signs 15-year concession for terminal at Bangladesh's Chittagong port

DP World, a global ports operator, has entered into a 15-year concession agreement with Bangladesh's Chittagong Port to operate a new terminal known as the New Mooring Container Terminal (NMCT). This public-private partnership is expected to enhance economic activity in Bangladesh and bolster the country's trade and logistics capabilities. The agreement encompasses the operation of the overflow container yard, and the NMCT will continue to be owned by the Chittagong Port Authority.

DP World did not disclose the financial value of its investment in the project. The partnership will enable NMCT to leverage DP World's extensive global network, which comprises ports, infrastructure, and supply chain services. DP World's executive chairman, Essa Kazim, stated that Bangladesh is an increasingly significant trading and manufacturing economy, and the company is dedicated to supporting its ongoing development.

The collaboration stems from a previous agreement between the Dubai government and Bangladesh's Public-Private Partnership Authority, which aims to advance strategic infrastructure development through public-private partnership initiatives. The development plan includes upgrading the terminal's civil and equipment infrastructure, incorporating digital solutions, and implementing operational enhancements to improve cargo handling efficiency and increase trade volumes.

Working alongside the Chittagong Port Authority, DP World will concentrate on critical operational aspects such as berth planning, yard management, equipment utilization, preventive maintenance, safety, and sustainability. The partnership is anticipated to bolster local workforce development and promote the adoption of international operating practices.

SM Moniruzzaman, chairman of the Chittagong Port Authority, emphasized that the collaboration will fortify Bangladesh's position in regional and global supply chains while establishing a robust foundation for investment and long-term economic growth.

DP World boasts a global handling capacity of 110 million 20-foot-equivalent units and is responsible for moving 10 percent of global daily trade, according to its website. The company has invested approximately $10 billion in a logistics network spanning 85 countries. DP World is actively expanding its presence internationally, with recent investments including a $90 million upgrade to Angola's Port of Luanda and exploratory work on two major port and economic zone projects in Nigeria.