ECNEC approves Tk 4,068.23cr project for Mongla port expansion

The Executive Committee of the National Economic Council (ECNEC) has approved a Tk 4,068.23 crore project aimed at expanding and modernizing the facilities of Mongla Port. 

The approval came during the 7th ECNEC meeting of the current fiscal year (FY25) and the 6th under the interim government, held at the NEC Conference Room in Sher-e-Bangla Nagar.  

Presided over by ECNEC Chairperson and Chief Adviser Prof. Dr. Muhammad Yunus, the meeting sanctioned a total of 13 projects with an estimated combined cost of Tk 12,532.28 crore. Of this amount, Tk 4,097.23 crore will be sourced from the Bangladesh government, Tk 7,328.95 crore through loans, and Tk 1,106.10 crore from the respective organizations� own funds.  

The Mongla Port Authority, under the Ministry of Shipping, will implement the expansion and modernization project, which is expected to be completed by December 2028. Out of the total project cost, Tk 475.33 crore will be funded by the government, while Tk 3,592.90 crore will come as a loan from China.  

Speaking at the press briefing after the meeting, Planning Adviser Dr. Wahiduddin Mahmud highlighted the strategic importance of Mongla Port. He stated that the government aims to transform the port into a regional hub by significantly enhancing its container-handling capacity. �This project has been carefully reviewed, and with its implementation, Bangladesh�s trade with neighboring countries such as Bhutan, Nepal, and China will see further expansion,� he noted.  

Addressing concerns over foreign loans, Dr. Mahmud acknowledged that Bangladesh�s graduation from the Least Developed Country (LDC) category would make concessional loans less available in the future, leading to increased financial obligations. To counterbalance this, he emphasized the need for higher revenue collection to ensure sustainable economic management.  

He also pointed out that while taking foreign loans is not inherently problematic, their effectiveness depends on proper investment in infrastructure and key sectors that can attract private investment and boost export-oriented industries. The government, he added, is focusing on enhancing the capacity of entities like BAPEX and Petrobangla to strengthen energy security.  

The other projects approved in the meeting are: Uttar Kattali Catchment Sanitation in Chattogram Metropolis with Taka 2,797.22 crore, Improved seed production and development of rice, wheat and corn, 3rd phase with Taka 474.68 crore, Modernization and development (2nd phase) of seed production, processing and distribution management of BADC with Taka 292.86 crore, Food Safety Testing Capacity Development with Taka 2,409.70 crore, Digging some four evaluation-cum-development wells of Titas and Kamta Fields with Taka 1,255 crore, conducting 3-D Seismic Survey at Habiganj, Bakhrabad and Meghna Fields with Taka 454.25 crore, Digging Sylhet-12 number well (oil well) with Taka 255.25 crore, Ghorashal 4th unit re-powering, 3rd revised with an additional cost of Taka 96.08 crore, Development of power distribution system of Chattogram Zone, 2nd phase, 2nd revised with an additional cost of Taka 164.15 crore, Strengthened Service Delivery systems for Improved Migration Management and Sustainable Reintegration with Taka 60.10 crore, Establishment and infrastructural development of government primary schools at Dhaka metropolis and Purbachal, 1at revised, with an additional cost of Taka 213.62 crore, and Establishment of digital labs at educational institutions, 2nd phase, 2nd revised with a reduced cost of Taka 8.86 crore.

The meeting was attended by relevant advisers, Planning Commission members, and secretaries from various ministries.