UK-based Port Evaluation Management (Port-Evo) propose US$ 1-billion investment to redevelop Mongla Seaport & to operate long-term
British Secretary of State for Foreign and Commonwealth Affairs and Northern Ireland William Hague made the proposal when he met the Bangladesh Prime Minister Sheikh Hasina at her hotel suite. She is in London to attend the Olympics.
The proposal was made to develop the Mongla port under joint venture with Mongla Port Authorities.
Port-Evo wants to invest for river dredging, procurement of new harbour cranes, container terminals, oil tank storage and water treatment plant.
They also proposed establishing an oil and gas-fired power station costing $ 450 million and a special economic zone.
Sheikh Hasina said the UK, the third largest destination of Bangladesh’s exports, is a time-tested friend and major development partner of Bangladesh.
According to available data, UK’s Foreign Direct Investment (FDI) to Bangladesh is about 22 percent of the country’s total FDI.