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ECNEC Approves Tk 4,068.23 Cr for Mongla Port Expansion
ECNEC Chairperson and Chief Adviser Prof. Dr Muhammad Yunus presided over the 7th meeting of the ECNEC for this fiscal year (FY25) and the 6th meeting of the interim government, held at the NEC Conference Room in Dhaka today. Photo: PID
The Executive Committee of the National Economic Council (ECNEC) has approved a Tk 4,068.23 crore project for the expansion and modernization of Mongla Port. The decision was made during the 7th ECNEC meeting of the fiscal year 2025, held at the NEC Conference Room in Dhaka on Sunday.
ECNEC Chairperson and Chief Adviser Prof. Dr. Muhammad Yunus led the meeting, which saw the approval of 13 projects with a combined cost of Tk 12,532.28 crore. Of the total, Tk 4,097.23 crore will come from the Bangladeshi government, Tk 7,328.95 crore will be financed by loans, and Tk 1,106.10 crore will be contributed by the respective organizations.
The Mongla Port Authority, under the Ministry of Shipping, will implement the expansion project, expected to be completed by December 2028. The project aims to enhance the port's container handling capacity, with Tk 475.33 crore funded by the Bangladeshi government and Tk 3,592.90 crore provided as a loan from China.
Planning Adviser Dr. Wahiduddin Mahmud explained that the Mongla Port holds significant geopolitical importance, and the government intends to transform it into a regional hub by upgrading its container handling capabilities. He added that the project would help expand international trade with neighboring countries such as Bhutan, Nepal, and China.
Dr. Mahmud also addressed concerns about the country’s development budget and the potential challenges posed by Bangladesh’s transition from an LDC (Least Developed Country). He noted that with the lack of soft-term loans from multilateral partners in the future, the government would need to focus on increasing revenue collection to maintain economic stability and efficiently manage debt.
The meeting also approved several other projects, including the development of power systems, improved seed production, and infrastructure development for educational institutions.
Among the other major projects approved were:
- Uttar Kattali Catchment Sanitation in Chattogram Metropolis (Tk 2,797.22 crore)
- Food Safety Testing Capacity Development (Tk 2,409.70 crore)
- Ghorashal 4th unit re-powering (Tk 96.08 crore additional cost)
- Digital lab establishment at educational institutions (Tk 8.86 crore reduced cost)
The meeting was attended by concerned advisers, Planning Commission members, and various secretaries.