Indian Firm Bags Consultancy Contract for Bangladesh Port

Indian Firm Bags Consultancy Contract for Bangladesh Port: An Indian company has won a contract to provide consulting services for a project to enhance capacity at Mongla port, Bangladesh’s second-largest seaport, which will improve sub-regional connections in South Asia. The contract was signed between Mongla Port Authority and EGIS India Consulting Engineers Pvt Ltd. The Government of India’s concessional Line of Credit covers a total project cost of USD 530 million, of which a PMC contract of USD 9.60 million was granted to EGIS India Consulting Engineers Ltd.

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More About This Development:

While India will provide the majority finance for the project under its concessional line of credit of $4.5 billion to Bangladesh, the Sheikh Hasina government will provide the rest. It is anticipated that the project will be finished by July 30, 2024. The project includes constructing a container terminal, handling and delivery yards, a residential complex and community facilities, marine workshop and service jetty.

Its Significance:

Once upgraded, the Mongla port will serve the business interests of eastern India, north-eastern states and Southeast Asian countries.

Pranay Verma, the High Commissioner of India to Bangladesh, emphasized that in terms of dollar value and the volume of projects, Bangladesh is India’s greatest development partner.  Nearly one-fourth of India’s development assistance abroad is extended to various projects across sectors in Bangladesh. The upgradation of Mongla port will strengthen maritime connectivity for Bangladesh, not just for the movement of goods with India but also with Bhutan and Nepal.