DP World and Bangladesh's Chittagong Port Authority have signed a 15-year concession agreement under which the group will operate and maintain the New Mooring Container Terminal and an additional container yard at Chittagong Port as part of a public-private partnership.
The agreement was signed by Admiral S. M. Moniruzzaman, chairman of the Chittagong Port Authority, and Essa Kazim, executive chairman of DP World, in the presence of government officials and executives from both sides.
Terminal ownership and development plan
The New Mooring Container Terminal will remain owned by the Chittagong Port Authority, while DP World will be responsible for its operation and maintenance throughout the concession term. The partnership aims to improve the terminal's performance and supply-chain efficiency and strengthen Bangladesh's trade links with regional and global markets.
The development plan includes upgrading the terminal's civil infrastructure and equipment, deploying digital solutions and making operational improvements to increase cargo-handling efficiency and support growth in trade volumes.
In cooperation with the Chittagong Port Authority, the group will focus on berth planning, storage-yard management, equipment utilisation, preventive maintenance, safety and sustainability, as well as developing the skills of the local workforce and applying international operating practices.
Supporting trade and supply chains
Moniruzzaman said the agreement aims to improve operational performance, ease logistical constraints and strengthen Bangladesh's links with international markets, while supporting local industry and improving the efficiency of trade flows.
Essa Kazim said the group would connect the New Mooring Container Terminal to its international network of ports, logistics infrastructure and supply-chain services, with the aim of supporting trade, attracting investment and creating new opportunities for businesses in Bangladesh.
The chairman of the Bangladesh Investment Development Authority said the project aims to accelerate operations, strengthen trade connectivity and raise operating standards at one of the country's main trade gateways, supporting the port system's ability to handle the targeted trade volumes.
Cooperation based on 2019 memorandum
The cooperation is based on a memorandum of understanding signed in 2019 between the Government of Dubai and the Public-Private Partnership Authority under the Prime Minister's Office of the People's Republic of Bangladesh, with the aim of developing strategic infrastructure through public-private partnership projects.
DP World operates a global network of more than 60 ports and terminals that handle nearly 10% of global container traffic. Its business spans ports and terminals, maritime and logistics services, and technology.
