To build the ‘Bay Terminal’, up to 500 acres of khas land are anticipated to be given to the Chittagong Port Authority (CPA) at a token price very soon.
Deputy Commissioner Abul Bashar Mohammed Fakhruzzaman has shared with the local media that the district administration will hand over the land soon after the CPA pays the token price of the land.
“The CPA is likely to pay the token price of 500 acres of khas land this month,” he stated.
CPA Secretary Omar Faruk said, “Constructing Bay Terminal may begin this year after the completion of all processes. The CPA will pay the token price soon.”
CPA Chairman Rear Admiral Mohammad Sohail shared, “After the completion of the final master plan, the groundbreaking work on Bay Terminal is likely to start in October 2024.”
According to sources, the disagreement over the ownership of the Khas land was resolved in February. Thus, there are no barriers to building the terminal.
According to them, the CPA will receive 500.71 acres of Government land from the district administration for a mere Taka 30,000,003.
In light of this, the CPA and the Chattogram district administration received a letter from the Ministry of Land on 31st January.
According to the sources, the Chattogram district administration set the price of the khas land at Taka 1,241 crore in July 2023. On the other side, the CPA requested that the ministry transfer the land at a nominal cost. Earlier in January 2022, the Chattogram district administration asked Taka 3,600 crore for the land. The dispute over the land price remained unresolved, causing a delay in the construction of the terminal.
To mobilise port activity and lower transportation costs, the CPA chose to establish a new terminal called “Bay Terminal” with all the amenities of a modern port on the Patenga coastline.
Large ships will be able to dock at the 900-acre terminal that is planned. It is anticipated that the port’s current 3.1 million TEU capacity will be increased by up to 5 million TEUs annually. Additionally, it is anticipated that the terminal will add two to three per cent to the expansion of the US economy.