Two jetties of Mongla Port to be developed worth $52.74m

Two jetties of Mongla Sea Port will be developed involving $52.74 million under public private partnership (PPP) and an agreement in this regard was signed yesterday.

Chairman of Mongla Sea Port Authority Rear Admiral Riaz Uddin Ahmed and Managing Director of Powerpack Ports Limited Ron Haque Sikder signed the agreement at a hotel in the capital on behalf  their respective organisations with the presence of shipping minister Shajahan Khan.
The annual container handling capacity of the port will stand 10 lakh TEUs (Twenty Feet Equivalent Unit) after development of the jetties, Shajahan Khan said after signing the agreement.
“The government is very cordial to develop the country’s second largest sea port Mongla. The profit margin stood at Tk 65 crore till 2016 against Tk 11.61 crore loss in 2004-05 fiscal years,” the shipping minister said. The port authority was handled only 142 ships in 2004-05 which is now stood 482 in 2015-16 fiscal years, he added.
According to the minister, a total of 25,649 TEUs were handled during 2004-2005 fiscal years—but 41,953 TEUs handled in 2015-16 FY.
The government has already implemented seven projects at a cost of Tk 310 crore for the development of Mongla port, he said.
“Three development projects of Tk 666 crore under implementation phases. Besides, Tk 2,925 crore projects under approval process,” Shajahan Khan said.  
According to the agreement, the Powerpack will develop the 3 and 4 number jetties of Mongla sea port. Now, a total of five jetties are operational of the port. A total of 11 jetties will be operated at Mongla port. Both the Mongla Sea Port Authority and Powerpack Ports Ltd will implement the two jetties (3 and 4) under PPP.
The uncompleted two jetties will be developed and Powerpack will operate them for 30 years as per agreement. 
The estimated cost has fixed US$ 52.75 million to complete the two jetties. The Powerpack will share its profit with Mongla port authority as per agreement.

Two jetties of Mongla Port to be developed worth $52.74m

Two jetties of Mongla Sea Port will be developed involving $52.74 million under public private partnership (PPP) and an agreement in this regard was signed yesterday. Chairman of Mongla Sea Port Authority Rear Admiral Riaz Uddin Ahmed and Managing Director of Powerpack Ports Limited Ron Haque Sikder signed the agreement at a hotel in the capital on behalf their respective organisations with the presence of shipping minister Shajahan Khan. The annual container handling capacity of the port will stand 10 lakh TEUs (Twenty Feet Equivalent Unit) after development of the jetties, Shajahan Khan said after signing the agreement. The government is very cordial to develop the countrys second largest sea port Mongla. The profit margin stood at Tk 65 crore till 2016 against Tk 11.61 crore loss in 2004-05 fiscal years, the shipping minister said. The port authority was handled only 142 ships in 2004-05 which is now stood 482 in 2015-16 fiscal years, he added. According to the minister, a total of 25,649 TEUs were handled during 2004-2005 fiscal yearsbut 41,953 TEUs handled in 2015-16 FY. The government has already implemented seven projects at a cost of Tk 310 crore for the development of Mongla port, he said. Three development projects of Tk 666 crore under implementation phases. Besides, Tk 2,925 crore projects under approval process, Shajahan Khan said. According to the agreement, the Powerpack will develop the 3 and 4 number jetties of Mongla sea port. Now, a total of five jetties are operational of the port. A total of 11 jetties will be operated at Mongla port. Both the Mongla Sea Port Authority and Powerpack Ports Ltd will implement the two jetties (3 and 4) under PPP. The uncompleted two jetties will be developed and Powerpack will operate them for 30 years as per agreement. The estimated cost has fixed US$ 52.75 million to complete the two jetties. The Powerpack will share its profit with Mongla port authority as per agreement.