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23 May 2022

Business Insider Bangladesh

World-class shipyard to be built near Payra port at Tk 14,000cr

BI Report || BusinessInsider

Published: 20:10, 24 January 2022   Update: 20:11, 24 January 2022
World-class shipyard to be built near Payra port at Tk 14,000cr

A general view of Payra seaport. Photo: File

The government is planning to build a world-class shipyard near the Payra seaport in Patuakhali at a cost of around Tk 14,000 crore.

Gentium Solutions, a Singapore and Australia-based company, and Damen Shipyards Group, a Netherlands-based company, are willing to finance the Tk 14,000 crore foreign direct investment (FDI) project.

It will be the costliest FDI project in Bangladesh after implementation.

During a meeting with Industries Minister Nurul Majid Mahmud Humayun at his office room on Monday, Gentium Solutions Adviser Md Kaikobad Hossain, Damen Group Senior Director (Naval Projects) Eef van den Broek, and Damen Group Asia Pacific Regional Sales Director Rabien Bahadoer made the proposal, said a press release.

At that time, they handed over the feasibility study report of the project to the industries minister, reports Bangladesh Sangbad Sangstha.

Gentium-Damen Consortium conducted the feasibility study under a memorandum of understanding (MoU) with the Bangladesh Steel and Engineering Corporation (BSEC).

Among others, Industries Secretary Zakia Sultana, Gentium Additional Adviser Dr Saidur Rahman Selim, Gentium Technical Chief Brigadier General (Retd) Arif Ahmed Chowdhury, Additional Secretary of the Industries Ministry Faizul Amin and concerned officials were present.

During the meeting, Humayun said the government wants to go from a ‘ship buying nation’ to a ‘ship building nation’.

He said that the government will extend all possible cooperation in setting up a world-class shipbuilding factory.

Prime Minister Sheikh Hasina has announced plans to build a shipbuilding and ship repairing industry in the Payra port area, he added.


Monetary Policy Stance
Budget 2020-21