Chinese firm secures Tk 4,046cr contract for Mongla Port

China Civil Engineering Construction Corporation (CCECC) has been awarded a Tk 4,046.48 crore contract for the expansion and development of Mongla Port. 

The approval was granted during a meeting of the Cabinet Committee on Government Procurement (CCGP) held on Tuesday, chaired by Finance Advisor Dr. Salehuddin Ahmed.

According to a statement from the Finance Ministry, the project titled "Expansion and Development of Mongla Port Facilities" was approved under the Direct Procurement Method (DPM) on a government-to-government (G2G) basis. The total cost of the project is Tk 4,046.48 crore, with CCECC tasked with its implementation.

The project, which aims to enhance the capacity and facilities of Mongla Port, has a total estimated cost of Tk 4,068.22 crore. Of this, Tk 3,592.89 crore will be funded through a project loan from the Chinese government, while the remaining Tk 475.33 crore will be covered by the Bangladeshi government. The project was approved by the Executive Committee of the National Economic Council (ECNEC) on February 2, with an implementation period set from January 1, 2025, to December 31, 2028.

In addition to the Mongla Port project, the CCGP meeting also approved the procurement of liquefied natural gas (LNG) from US-based Accelerate Energy LP. The deal, worth approximately Tk 664 crore, sets the price of LNG at $14.30 per unit. Bangladesh signed a 15-year agreement with Accelerate Energy in 2023 to purchase 1 million tons of LNG annually from the US company.

The developments underscore Bangladesh's efforts to enhance its infrastructure and energy security through strategic international partnerships.