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The government plans to make the proposed billion dollar deep-sea port (DSP) a regional hub for shipping to facilitate its use by six countries of the region, including Bangladesh.
In line with the plan, a proposal to initiate bilateral talks with the neighbouring countries -- India, Nepal, Bhutan, Myanmar and China -- about the use of the port is now under consideration, sources said.
"Before going for such a giant infrastructure, the government has to be sure about the project's financial and geo-political viability," a high official of the Ministry of Shipping told the FE Wednesday.
A deep-sea port can contribute hugely to the economy provided the countries concerned reach an agreement to extend all essential transit facilities to each other.
"Unless and until we are assured of transit facilities and a large volume of container market, the deep-sea project would simply be a misadventure for the country, he pointed out. With the current level of export-import trade, Bangladesh does not require a DSP, he said.
Meanwhile, the government would consider the mobilisation of funds from the private sector or through public subscription once a positive decision is taken with regard to the port, sources added.
A meeting of a high-powered government body is scheduled to take place at the ministry Saturday in this connection.
The experts believe the proposed port would benefit the trade and commerce of the region for its geo-physical location.
The authority seems to be very interested in the project. It has recently asked the Economic Relations Division (ERD) to find out a technical assistance fund from any donor agency for the project, sources said.
It has also asked the Planning Commission to complete the process of approval of the technical assistance project proposal (TAPP) of the project, which was submitted to the Commission in October 2003 last for approval.
Earlier, it was also decided in principle to conduct a techno-economic feasibility study on the location of the DSP at Moheshkahli in Cox's Bazar and Akram Point in the Sundarbans.
Chittagong port alone handled around 650,000 containers during the 2003-2004 fiscal, which was 18 per cent more than those handled in the previous fiscal.
According to Department of Shipping (DoS), the construction of a DSP will facilitate arrival of mother vessels, cut lead-time for the leading export and import items and spur further economic growth in the region.
Though a deep-sea port is unimaginable for even the developing countries handling large volume of containers, the government has decided to go ahead with the techno-economic feasibility study of the project as preliminary figures have shown that Bangladesh could make billions out of such a port.
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