Mentioning that the Matarbari Port Development Project is on the priority list of the government, Shipping Minister Khalid Mahmud Chowdhury said today that work on the project will start soon.
The minister spoke to the media after a meeting with Hirata Hitoshi, chief representative of the Japan International Cooperation Agency (JICA) in Bangladesh, at the minister's office in the secretariat in the capital.
"A project has already been formulated and will be submitted before the Executive Committee of the National Economic Council (Ecnec) soon," said the minister.
Earlier Hirata Hitoshi visited the minister at his office and requested him to start work on the Matarbari Port Development Project.
The minister thanked the Japanese government for assistance in executing the project.
He is also optimistic that work on the project will begin very soon.
The secretary of the Shipping Ministry, Abdus Samad, among others, was present at the meeting.
The initial cost of the 'Matarbari Port Development Project' is estimated at Tk 17, 777.16 crore. The Chattogram Port Authority will implement the project with JICA financing.
The project cost includes Tk 12,892.76 crore loan from JICA, Tk 2,671.15 crore from the government fund and the port authority will provide Tk 2,219.98 crore.
Mother vessels will be able to enter the port once the project is complete, and this will contribute significantly in boosting the country's economy.