China to lend Tk 3,500cr to boost Mongla Port capacity

China, a key development partner of Bangladesh, will lend Tk 3,500 crore to enhance the container handling capacity of Mongla Port.

The project, titled 'Expansion and Development of Mongla Port Facilities,' aims to modernise port infrastructure, create direct and indirect employment opportunities, and ensure the smooth and safe loading and unloading of containers and goods.

The total cost of the project is Tk 4,682.27 crore, with Tk 4,753.30 crore coming from government funds and the remaining Tk 3,592.90 crore provided as a G2G (government-to-government) loan from China. The project is scheduled to run from January 2025 to December 2028 and will be implemented by the Mongla Port Authority.

Dr AKM Anisur Rahman, Member (Engineering and Development) of the Mongla Port Authority, told Jagonews that the project will significantly increase the port’s capacity. "The expansion will include additional jetties, data centers, and enhanced ICT facilities, which will strengthen port management and overall efficiency," he said.

The project is expected to elevate Mongla Port’s regional significance by facilitating cargo handling for neighbouring countries such as Nepal, Bhutan, and India’s West Bengal. This is particularly crucial as Chittagong Port’s capacity is nearing its limit.

The Planning Commission noted that the project had been under consideration for a long time and was approved due to strong interest from China. "While we aimed to reduce loan-based projects, enhancing Mongla Port’s capacity is essential for boosting trade and regional connectivity," a commission official said.