Bangladesh on Monday entered a new era of maritime logistics with the signing of a contract to open the MGH Terminal, the country’s first private container port, in what is being described as a ‘historic occasion’ for the maritime industry.
Chairman of the Chittagong Port Authority (CPA) Rear Admiral Moniruzzaman lauded the initiative and said the contract signing of the MGH Terminal is a ‘historic occasion’ for the country’s maritime industry.
“By integrating private sector agility with green technology, this terminal provides vital strategic value to the Chittagong Port. I am confident MGH Terminal will set a new benchmark for vessel turnaround times and environmental responsibility that will make our exports more competitive on the global stage,” he said.
The contract signing of the facility was also attended by Group CEO of MGH Anis Ahmed, and key industry stakeholders at the CPA board room.
The MGH Terminal stands as a testament to Bangladesh's growing stature in international trade, promising a faster, cleaner, and more cost-effective gateway for the nation's burgeoning import-export volumes, said the company.
To be built on seven acres of land with a 250-metre jetty, officials said, the MGH Terminal represents a paradigm shift in the country's supply chain infrastructure.
With a static capacity of 3,500 TEUs and a monthly handling capability of 40,000 TEUs, the terminal is set to expand CPA’s monthly landing capacity by 102 vessels.
Officials said the MGH Terminal is distinguished as Bangladesh’s first ‘Green Port,’ integrating cutting-edge sustainable technologies to minimize its environmental footprint.
The facility will feature zero-emission operations, renewable energy, carbon reduction and innovative design.
The terminal will offer a radical improvement in vessel turnaround times.
Located strategically, vessels can berth at the MGH Terminal in approximately 30 minutes from the river mouth, compared to the standard 2-hour window at the main Chittagong Port, officials said.
This efficiency results in significant fuel savings of 0.6 to 1.3 tons per vessel call, drastically reducing costs for international shipping lines.
Group CEO of MGH Anis Ahmed emphasised the group's commitment to national development and said the MGH Group is investing Tk 550 crore of their own resources to build this state-of-the-art terminal.
“Our focus is on absolute efficiency; while other projects like the APM Terminal at Laldia are still in development and unreasonably escalate cost of investment within Chittagong Port, MGH Terminal is designed to be leaner, faster, and more technologically advanced. We are not just moving containers; we are moving the Bangladesh economy forward,” he said.
As one of Bangladesh's largest multinationals with operations in 26 countries including five European nations, MGH Group is leveraging its global expertise to woo Foreign Direct Investment (FDI) from top-tier global companies.
The terminal is expected to create tens of thousands of new jobs aligning with the economic vision of Prime Minister Tareque Rahman to build a highly efficient, modern economy, officials said.