en.Wedoany.com Reported - Bangladesh has given initial approval for a privately invested $1 billion shipbuilding and repair complex at the Matarbari deep-sea port.

The Ministry of Shipping has granted in-principle approval for the Matarbari Green Dockyard and Shipbuilding Facility project and submitted the unsolicited proposal to the country's Public-Private Partnership Authority for technical and financial evaluation.

The project is proposed to be financed by Australia-based AIS Marine Investments, with China Harbour Engineering Company serving as the technical partner. No construction timeline or concession period has been announced yet.

The project will occupy approximately 200 acres of land owned by the Chattogram Port Authority. Under the proposed landlord model, the port retains ownership of the land and fixed assets, while infrastructure developed by the private investor reverts to state ownership after the concession period ends.

Plans include a dry dock measuring 600 meters long and 95 meters wide, capable of servicing large commercial vessels operating at Matarbari, other Bangladeshi ports, and the Bay of Bengal. The facility will offer shipbuilding, regular docking repairs, and emergency repair services to reduce the need to send large vessels to shipyards in Singapore, the UAE, or China.

Bangladesh's Ministry of Industries issued a no-objection certificate following an inter-ministerial meeting earlier this year. The government stated that the project will not increase national debt risks. If it passes the remaining approval stages, it is expected to create 1,200 to 1,300 direct jobs and approximately 2,600 indirect jobs.