AD Ports offers to invest $1b in Ctg port

Abu Dhabi (AD) Ports Group has offered to invest $1 billion to construct a multipurpose terminal, one of four under Bay Terminal, in a joint venture with Chittagong Port Authority (CPA), said CPA Chairman Rear Admiral Mohammad Sohail today.

A deal will be signed to start the construction under a public-private partnership (PPP) by June next year, he told a press conference at the CPA on the port's successes in 2023 and plans for next year.

Up until now, Bay Terminal, to be constructed on the coast of the Bay of Bengal, is scheduled to have two container terminals, a multipurpose terminal and an oil and gas terminal.