A new consortium led by local terminal operator Saif Powertec Limited has submitted a proposal to operate the New Mooring Container Terminal (NCT) of Chattogram Port for a 15-year period.
The initiative aims to enhance domestic operational capacity, strengthen national security, and save foreign exchange, according to individuals familiar with the proposal.
However, officials at the Ministry of Shipping said no formal response or decision has yet been made regarding the submission.
Saif–Cosmos–Everest consortium proposal
The three-company alliance, named the Saif-Cosmos-Everest Port Services Consortium, formally submitted its proposal to the Ministry of Shipping on April 28. The group has expressed interest in taking over full operational responsibility of the NCT for 15 years.
The consortium is led by Saif Powertec Limited, with Cosmos Enterprises and Everest Port Services Limited as its partners. Notably, ownership links of the partner companies include two sitting members of parliament.
Cosmos Enterprises is chaired by ABM Ashraf Uddin Nijan, Whip of the ruling party and MP for Lakshmipur-4. Everest Port Services Limited is managed by Shahadat Hossain Selim, BNP MP for Lakshmipur-1 constituency.
Saif Powertec itself is already a major port operator in Bangladesh. The company has been running the NCT for the past 17 years and also operates the adjacent Chattogram Container Terminal (CCT), as well as the Kamalapur Inland Container Depot (ICD) in Dhaka.
In addition, Cosmos Enterprises and Everest Port Services Limited have also been engaged as operators in cargo handling at Chattogram Port for a long time.
Financial structure of the proposal
Under the proposed arrangement, all operational funds would be collected from shipping agents, main line operators (MLOs), importers, and other stakeholders.
From this revenue pool, the consortium would receive an operating fee of $69 per TEU (twenty-foot equivalent unit), while the remaining revenue would go to the Chattogram Port Authority.
According to the proposal, the port authority would retain around $92 per TEU, after accounting for operating costs such as fuel, electricity, equipment maintenance, and manpower over the 15-year period.
Long-term operational plan
Saif Powertec Managing Director Tarafdar Ruhul Amin told Times of banglasdes, the consortium would assume full operational responsibility of the terminal, including equipment management, RTG crane maintenance, and utility costs.
He added that the Chattogram Port Authority would not need to make any upfront investment over the 15-year term, while the proposed operating fee structure would ensure efficiency and financial sustainability.
Ruhul Amin also argued that reliance on foreign operators leads to significant foreign currency outflow in the form of dividends, placing pressure on the national economy. In contrast, domestic operators could generate additional government revenue through taxes and VAT, which he estimated at around 20 percent.
He further said that in countries such as India, domestic companies operate most terminals and have achieved international standards, suggesting Bangladesh could follow a similar model to expand capacity and efficiency.
According to consortium representatives, port terminals are strategically linked to national security, making it important to prioritize local operators. They also claimed that the NCT is currently operating efficiently and remains a critical national infrastructure asset.
When asked about the status of their proposal, Tarafdar Ruhul Amin confirmed that no response has yet been received from the Ministry of Shipping.
Ongoing negotiations and competing proposals
At present, the Chattogram Port Authority is also engaged in negotiations with DP World regarding the operation of the NCT. The agreement process was initiated during the previous Awami League government and was later advanced under the interim administration, but has yet to be finalized due to various complications, including labor-related issues.
Currently, the NCT is being operated by the Navy-affiliated organization CDDL (Chittagong Dry Dock Limited).
Meanwhile, another domestic conglomerate, MGH Group, has also reportedly submitted proposals to manage the terminal.
When contacted, Shipping Ministry Secretary Zakaria stated that negotiations with DP World are ongoing. However, he did not comment on whether the proposals from MGH Group or the new consortium are currently under consideration.
