FCC

Chittagong port in Bangladesh to receive investment from Adani Group

2018-10-30

Adani Group intends to venture into the ports sector in Bangladesh through a private-partnership. The company is deliberating to invest in Chittagong Port?s planned Bay Terminal, a deep terminal proposed to come up near the port. The funding for the terminal will possibly come from the Asian Development Bank, which is expected to handle coal. The terminal is also one of the major focus points for Bangladesh in terms of infrastructure development.

Bangladesh plans to expand its congested Chittagong Port. It is reportedly inviting investment through public-private partnership (PPP) in order to improve the port infrastructure. The Adani Group has reportedly expressed interest in investing in the terminal.

Several terminals in the country have previously seen investments from Adani Ports and SEZ (APSEZ), Adani Group's port arm, along the east coast, including Dhamra, Ennore and Kattupalli. The company has invested in power, ports, energy and real estate, and has presence in Haldia, West Bengal. It also has an edible oil refining facility under its subsidiary Adani Wilmar.

There is an LNG import terminal coming up under APSEZ at Dhamra port in Odisha. APSEZ has signed a long-term deal with the Indian Oil Corporation for this terminal. The terminal will reportedly supply gas to Bangladesh and Myanmar. According to the agreement, IOC has booked a 3-mtpa re-gasification capacity for 20 years.