en.Wedoany.com Reported - Saudi port operator Red Sea Gateway Terminal (RSGT) has officially commenced operations at the Patenga Container Terminal (PCT) in Bangladesh, which is part of the Port of Chattogram. Chattogram is the main gateway for Bangladesh's maritime cargo imports and exports and the busiest port in the Bay of Bengal.
RSGT signed a 22-year concession agreement in 2023 to develop and operate PCT. At the launch ceremony last week, RSGT stated that it has invested $170 million in the terminal, one of the operator's largest international expansion projects. The funds were used to double the terminal's container handling capacity from 250,000 TEUs in 2024 to the current 600,000 TEUs. RSGT noted that part of the efficiency gains came from the procurement of four ship-to-shore (STS) cranes, which increased productivity by 30% compared to other regional terminals.
The commissioning of PCT marks a significant milestone in Bangladesh's maritime development. The terminal is the first private port concession project under Bangladesh's Public-Private Partnership Policy. The policy was adopted in 2017 as Bangladesh opened its economy to foreign investors. In 2019, RSGT became the first port operator to sign a memorandum of understanding with the government, committing to provide operational assistance and expertise for Bangladesh's port sector.
Upon full operation of PCT, RSGT has pledged an additional $1 billion in financing for Bangladesh's port and logistics sector. The operator plans to handle approximately 400,000 TEUs at the terminal this year, accounting for about 12% of Chattogram's total container throughput.
Bangladesh continues to welcome private investors, with the government granting in-principle approval for the construction of a shipbuilding facility near Chattogram. The Matarbari Dockyard will be located adjacent to the developing Matarbari deep sea port, approximately 62 miles south of Chattogram.
The shipbuilding facility project is expected to be financed by Australia's AIS Marine, with China Harbour Engineering Company designated as the technical partner. The proposal has been submitted to the Public-Private Partnership Authority for further review after receiving in-principle approval.
Last month, Bangladesh's Shipping Minister Shaikh Rabiul Alam told parliament that his ministry is advancing plans to designate shipbuilding as a priority industry. This status would allow local shipyards to enjoy customs benefits and long-term tax holidays. Alam stated that through necessary expansion, local shipyards could capture the existing global demand for medium-sized vessels.
