Bangladesh is poised to take a significant step toward establishing its first deep-sea port, as the Chittagong Port Authority (CPA) prepares to sign a contract on April 22 for the construction of two key jetties under Phase 1 of the Matarbari Port Development Project.
The deal, valued at approximately Tk 6,200 crore, will be signed with a Japanese joint venture between Penta-Ocean Construction Co. Ltd. and TOA Corporation during a formal ceremony at a Dhaka hotel, CPA Secretary Md Omar Faruk confirmed.
The signing marks a major milestone in the country’s long-anticipated journey to build the Matarbari Deep Seaport in Cox’s Bazar—a strategic infrastructure development that will significantly boost Bangladesh’s maritime capacity.
Funded largely by the Japan International Cooperation Agency (JICA), the overall project cost is estimated at Tk 24,300 crore. Phase 1 includes the construction of a 460-metre container jetty and a 300-metre multi-purpose jetty, along with associated infrastructure such as yard reclamation, soil improvement, terminal facilities, and administrative buildings, according to Project Director Commodore Kaosar Rashid.
Set to be completed by 2029, the port will be capable of handling vessels carrying up to 8,000 TEUs (twenty-foot equivalent units)—a vast improvement over the current capacity of Chattogram Port, which serves ships up to 2,500 TEUs.
The concept for a deep-sea port in Matarbari first emerged in 2018 alongside the development of a coal-based power plant in the area. The need to accommodate larger fuel vessels prompted the creation of an artificial channel by the state-run Coal Power Generation Company Bangladesh (CPGCBL), which also constructed critical maritime infrastructure including breakwaters and revetments.
JICA, which had previously supported the power project, later backed the port plan after a feasibility study revealed favorable seabed conditions. The project’s scope was subsequently expanded to take advantage of the site’s natural depth.
Originally approved by the Executive Committee of the National Economic Council (ECNEC) in 2020 with a budget of Tk 17,777 crore and a 2026 deadline, the project underwent a major revision in October 2024. The revised plan increased the budget to Tk 24,381 crore and extended the completion target to 2029. Officials attributed the cost escalation to the depreciation of the taka, land acquisition costs, and design updates.
Once operational, the Matarbari Deep Sea Port is expected to transform the country’s trade landscape, enabling direct handling of large container vessels and reducing dependency on regional transshipment hubs.
