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UK consortium to build container depot in Ctg
Some leading UK-based companies have formed a consortium recently to construct a new container terminal near the Chittagong seaport with private Investment, sources concerned said.
Port Ventures Limited (PVL), the company set up by the consortium. has already selected a suitable site at the mouth of river Karnaphuli to build the terminal with an estimated cost of 300 to 350 million US dollars.
Talking to UNB In Dhaka. Tim Steel. Chairman of Britain's TCM group, which is coordinating the consortium, said: This is a highly viable project and we have already begun the technical study.
Announcing the start of work on Build-Own-Operate basis. he said the private terminal at Patenga would require both road and rail links to Integrate into the infrastructure system of Bangladesh
He said the British consulting engineers, and Sir William Halcrow and Partners Ltd. one of the world's leading port engineering companies, will carry out a technical study.
The consultancy firm, apart from its other recent works in Bangladesh, is participating in the Jamuna Multi-purpose Bridge project, said the TCM group chairman.
He said the feasibility study is expected to be completed by
the end of December. PVL will then be in a position to make a coat evaluation of the project in order to confirm the private sector finance and relevant concession from Bangladesh government for proposal
The detailed engineering design and development would be completed in 1998 and the construction is expected to commence early 1999, Steel informed.
He hoped that the construction of the project would be completed by the year 2002 The container port will be able to handle about 500.000 TEUs of container annually by 2010.
By the year 2005. the new port's capacity will stand at 200.000 to 250.000 TEUs.
Steel said the consortium comprise Halcrow, RPT. TCM Group. Portia (Mersey Docks and Harbour Company), and Carmille. a UK-based venture capital company.
The project has been actively supported by the British government's Department of Trade and Industry (DTI) and the British High Commission in Dhaka, he claimed.
The TCM chairman said the fund la ready and they have already submitted a draft proposal to the government, seeking 300 acres of land at the project site. "We ll invest the money if the government gives the go ahead signal."