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Works on countrys 3rd seaport is to begin shortly at Patuakhalis Payra river. Chittagong Port
Authority (CPA) has already signed a Memorandum of Understanding (MoU) with Payra
Seaport Authority, under which the former will provide the latter with monetary, technical and
human resources assistance.
The third seaport of the country will be built on a Public Private Partnership (PPP) basis. The
Payra Port Authority has stated that around TK 15,000 Crores will be required to complete the
infrastructural part of the construction process. the entire project will take 5 to 7 years for
completion.
CPA has provided interest free loans for the feasibility study, land acquiring and other
preparatory works on the project. The following sectors will be directly benefited by the
construction of the third port: fisheries, agriculture, and manufacturing industries of the region. It
is expected that the port will also substantially contribute to the economy as a whole.

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Home National
15 May 2014 15:33:00 PM Thursday

CPA provides Tk50cr to build Payra port

Staff Correspondent
banglanews24.com

DHAKA: Chittagong Port Authority (CPA) signed a memorandum of understanding with

Payra Port Authority (PPA) on Thursday to set up the Payra Seaport at Rabnabad channel
in Patuakhali district.
Under the MoU, the CPA will provide taka 50-crore to construct the countrys third seaport.
Member of CPA (Engineering) Captain Julfikar Aziz and member of PPA (Harbor and Marine)
Captain M Saidur Rahman signed the memorandum for the respective side at the meeting room
of the secretariat of Shipping Ministry on Thursday.

Shipping Minister Shahjahan Khan along with Secretary of the Ministry Syed Manjurul Islam
and other officials were present there.
According to the contract, CPA will provide financial, technical and other facilities to set up the
new seaport.
Shahjahan Khan said that the Chittagong Port Authority will provide a total of almost Tk 50crore without any interest to set up the third seaport.
He further said that it will help in handling import-export trade of the country. As such its
importance in the national economy is paramount, he added.
The Chittagong Port is the principal seaport of Bangladesh handling about 92% of import-export
trade of the country. But experts fearing to have traffic jam in port in near future.
The loan will be refunded by PPA in 20 installments by 2020.
The first two ports of the country Chittagong port and Mongla port were established in 127 and
64 years ago respectively.
Earlier on November 13, 2013, premier Sheikh Hasina inaugurated the much-awaited seaport in
Itbaria area at Tiakhali union under Kolapara upazila.
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ultan Ahmed Bin Sulayem, Chairman of the Dubai-based company, met Prime Minister Sheikh
Hasina at St Regis Hotel on the second day of her Abu Dhabi visit on Sunday.
Besides the deep-sea port, the prime minister asked the company to survey the possibility of
building a marine drive from Chittagongs Mirsarai to Teknaf and a specialised economic zone.
The DP World chairman was positive about the proposals, said the prime ministers media
advisor Iqbal Sobhan Chowdhury.
Briefing the reporters after the meeting, he said, DP World has built ports in many countries.
They have experience in India, Pakistan and Sri Lanka. This was discussed."

The Emirati firm, with above 30,000 employees, is currently working in more than 60 countries
in six continents.
It plans to expand its operations and take up more projects in 10 countries.
They have the experience of building London Gateway, a development on the north bank of the
River Thames.
Secretary at Prime Ministers Office Abul Kalam Azad said: Payra has been given special
importance at the meeting for only one reason. Seaport activities have started in Payra recently.
Moreover, there will be a naval base there.
Highlighting Payras importance in regional connectivity, he said the prime minister had already
discussed construction of a deep-sea port at Payra with DP World.
Foreign Secretary Md Shahidul Haque said Hasina held a long meeting with DP World chairman
and discussed the Emirati companys investment potentials in Bangladesh.
He said the prime minister highlighted the potentials of Bangladesh's resourceful maritime areas
following settlement of maritime disputes with India and Myanmar.
The two sides discussed how much Bangladesh could benefit from DP Worlds experiences in
recovering lands from the sea and constructing ports and other infrastructures there.

Foreign Minister Abul Hassan Mahmood Ali was present at Hasinas meeting with the DP World
chairman.