APM Terminals, a unit of Denmark-based shipping giant Maersk, formally signed a significant 30-year concession agreement with the Chittagong Port Authority (CPA) on Monday for the Laldia Container Terminal (LCT) in Chattogram.
The deal entails a substantial investment of around $550 million by APM Terminals and its local equity partner, QNS Container Services Ltd. Maersk Group Chairman Robert Maersk Uggla confirmed this as the largest European company investment in Bangladesh to date.
The project is structured under a Public-Private Partnership (PPP) framework. APM Terminals will design, finance, build, and operate the terminal, while the CPA retains ownership.
The terminal is expected to be operational by 2030. Once complete, it will provide a major boost to Bangladesh's economy by enabling the arrival of larger vessels at the Chittagong seaport, enhancing logistics, and is expected to create numerous job opportunities for the youth.
The signing ceremony, attended by high-level officials from Bangladesh and Denmark, emphasized the project's strategic importance: Chief Adviser Prof. Muhammad Yunus hailed the agreement as "the beginning of a new era for Bangladesh's trade and foreign direct investment," opening doors for more diversified investment from Denmark and Europe. He urged APM Terminals to fast-track the construction. Maersk Group Chairman Robert Maersk Uggla stressed that the terminal will be "a sustainable port" and hoped the investment would attract more European investors. He also revealed plans to explore further investment opportunities in Bangladesh's logistics and supply-chain sectors. Shipping Adviser Dr. M. Sakhawat Hussain noted the investment is expected to significantly boost employment, particularly for the educated youth, and invited other nations to invest in Bangladesh.
State Secretary Lina Gandlose Hansen envisioned the port as an "ecosystem of people and purpose" where operations are safer and smarter. Ambassador Christian Brix Møller praised the agreement as "historic" and highlighted that Denmark would share its knowledge and expertise in efficiency.
PPP Authority CEO Chowdhury Ashik Mahmud Bin Harun called Laldia the "first brick" in the foundation needed for Bangladesh to become a manufacturing hub, stating, "Laldia is not where our voyage ends. It's where we set sail."
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