$1 billion investment proposal in second largest port


British Foreign Secretary, William Hague met with Bangladesh Prime Minister Sheikh Hasina yesterday and proposed a $1 billion investment in the Mongla seaport, the second largest in the country.

The investment has been proposed by The Port Evaluation Management (Port- Evo), a Horncastle based British company which wishes to develop the port facilities and redevelop the area under a joint venture with the Mongla Port Authorities.

Port-Evo is also proposing investment in river dredging, procurement of new harbour cranes, container terminals, oil tank storage and a water treatment plant. In addition the company is proposing the building of a oil and gas fired power station costing US$ 450 million within a special economic zone.

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