The third Indian Line of Credit (LoC) project to upgrade Mongla Port will greatly increase revenue generation, enhance sub-regional connectivity, trade, and commerce, and speed up regional growth overall.
According to representatives of the Mongla Port, the expansion of the Khulna-Mongla Port rail project and this port will strengthen the maritime connections for the transportation of products not just between India and Bangladesh but also to and from Bhutan and Nepal.
The second-largest port in Bangladesh, Mongla, offers good inland connections to the commercial center of Khulna. The third India-concessional Line of Credit (LoC) is being used to fund the project for upgrading the Mongla Port. It includes the building of the Mongla Port’s Jetty Nos. 1 and 2, with an estimated cost of roughly Tk 6,014.61 crore.
The Bangladeshi government will contribute Taka 1,555.20 crore toward the project’s total cost, with the Indian Line of Credit providing the remaining Taka 4,459.41 crore in project support. The project is anticipated to be finished in the next fiscal year.
It was discovered during a field visit to the project site at Mongla Port and a discussion with the project’s relevant officials that the COVID-19 outbreak had caused a delay in the project’s implementation. However, it would gain speed after the Cabinet Committee on Government Purchase approved the PMC deal, which would happen in a matter of days (CCGP).
Egis India Consulting Engineers Pvt. Ltd. won the project’s PMC contract after emerging as the technically superior bidder. The PMC deal is worth $9.6 million USD.
