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Agreement signed with Indian company for development of Mongla port Mongla Port Upgradation
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Agreement signed with Indian company for development of Mongla port

Bangladesh Live News | @banglalivenews | 27 Dec 2022, 02:11 pm

Dhaka, December 27: Contract signed for Project Management Consultancy (PMC) services for 'Mongla Port Upgradation' project. It was signed at a hotel in the capital on Monday (December 26) at noon. The project is being undertaken under a concessional line of credit of USD 4.5 billion extended to the Governments of India and Bangladesh.

Agreement signed between Mongla Port Authority and EGIS India Consulting Engineers Pvt. The total cost of the project is USD 530 million under the concessional line of credit of the Government of India of which the PMC contract has been awarded to EGIS India Consulting Engineers Pvt Ltd for USD 9.60 million.

Indian High Commissioner Pranay Verma said Bangladesh is India's largest development partner both in terms of financial value and number of projects. About one-fourth of India's global development assistance has been extended to Bangladesh in a variety of projects across various sectors. This strong development cooperation is a reflection of India's commitment to partnership with Bangladesh towards greater growth and prosperity.

He emphasized that various connectivity projects like the Mongla port project, if completed, would have a transformative impact not only on the India-Bangladesh relationship but also on the economy of the entire sub-region.

The Government of India has so far granted four concessional lines of credit worth USD 7.862 billion to the Government of Bangladesh. So far 42 projects have been taken up under this concessional loan. Out of these, 14 projects have already been completed and the rest are in various stages of implementation. Despite serious challenges caused by the pandemic, projects worth over USD 2 billion have been contracted and over USD 1 billion disbursed.

The 'Mongla Port Upgradation' project is the largest project in the shipping/port sector financed by the Government of India under its concessional loan. The development of this port will strengthen Bangladesh's sea connectivity not only with India but also with Bhutan and Nepal.

India is also providing concessional funding for the Khulna-Mongla Port Rail Line Project and the Khulna-Darshana Rail Line Project, and once these projects are completed, Mongla Port will become a truly multi-purpose hub as the only rail-connected port in Bangladesh, opening up immense economic potential.