A joint venture between Japanese companies Penta-Ocean Construction and TOA Corporation has been awarded a contract to build the first phase of the new Matarbari deep-water port in Bangladesh. The project is worth $490 million and will take three and a half years to complete.
The project will include a container terminal, a multi-purpose terminal, and a 760-meter-long quay wall with a 16-meter berth depth. The new port is designed to address the limited depth of Chittagong (9.5 meters), which currently handles 98% of the country’s container cargo.
Matarbari is expected to be able to accommodate vessels with a capacity of up to 8,000 TEUs, which will help cope with the growing cargo flow. The project will not only ease the burden on Chittagong, but will also accelerate the development of logistics and the economy of Bangladesh, improving ties with neighboring countries.