Payra Deep Sea Port (Construction)

Payra Deep Sea Port, Patuakhali

Locations

Type

Seaport

Status

Preparatory Works

Total Reported Cost

15.0 billion USD

Initiatives

Start Date

2013

Start of Construction

Planned Completion Date

2023

Funders

Source(s) Amount
None
None

Description

This port in Payra, Bangladesh, is partially constructed and began basic operations in August 2016. According to BMI research, the full port construction project will have 19 separate components, 13 of which will be implemented under foreign direct investment, and six of which will be financed through government-to-government deals. The total cost of the port is estimated to be 11-15 billion USD. In September 2017, the Bangladesh University of Engineering and Technology won a contract to prepare the master plan and design of the port. The China Harbour Engineering Company and China State Engineering and Construction Company (CSCEC) were awarded contracts worth USD $600 million to develop two of the 19 components. CHEC will construct the main port infrastructure (terminals etc.), and CSECC will be responsible for riparian aspects, the construction of housing, healthcare and education facilities around the port. A coal-based power plant is also being constructed to power the port and port city.

The port is being developed in three stages. Under the Long-Term Plan, by 2023 the port have a 16 meter channel, all terminals would be constructed, and associated facilities - an EEZ, airport, port city, dockyard/shipyard, and eco-tourism facilities - would be in place.

This project is part of the Bangladesh-China-India-Myanmar Economic Corridor, which was initially put forth under China's Belt and Road Initiative. India, which has not signed on to the BRI, has supported and financed the development of Payra Port.

Project data for this page was provided by BMI Research, a Fitch Group company that focuses on global markets research and analysis.