Maersk secures 30-year lease for Bangladesh's Chattogram container terminal

On Monday, Bangladesh signed a 30-year lease with Danish global shipping giant Maersk to manage a new container terminal in Chattogram (south-east), the country's largest port.

Officials from the Chattogram Port Authority stated that APM Terminals, the Maersk subsidiary involved in the project, will invest approximately 550 million dollars over the next three years to develop the site.

APM Terminals will then operate the terminal under the 30-year lease.

Bangladesh, the world's second-largest clothing exporter, relies heavily on the port of Chattogram, formerly known as Chittagong and strategically located on the Bay of Bengal.

"This is a new beginning for the country," said Muhammad Yunus, head of Bangladesh's interim government, in a statement after the contract was signed. According to him, it "opens a new door to larger and more diversified investments."

The government is also in talks with Medlog SA, a subsidiary of the Swiss-based Mediterranean Shipping Company (MSC), for an inland terminal in Pangayon, on the outskirts of the capital, Dhaka.

This article was translated to English using an AI tool.

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