Bay Terminal: Bangladesh Chattogram Port $1.2B Expansion Project
Bay Terminal is an expansion project for Chattogram Port, Bangladesh's largest seaport, designed to resolve the throughput saturation problem of the existing facility. Located on the Halishahar coast approximately 16 kilometers south of central Chattogram, it represents Bangladesh's largest port infrastructure investment at a total project value of $1.2B. Upon completion, the terminal will add 3 million TEU of annual handling capacity, expanding total port throughput from the current 2.8 million TEU to 5.8 million TEU.
Financed primarily through concessional loans from JICA ($500M) and ADB ($400M), the project underpins Bangladesh's $45B annual garment export industry. Korean firms have $200M+ in participation opportunities in port automation systems (ASC and AGV) and crane and cargo handling equipment — with Busan Port automation experience serving as a powerful reference.
Technical Specifications and Three-Phase Development Plan
Bay Terminal will be developed in three phases. Phase 1 targets three berths with 1.2 million TEU annual capacity — construction commenced in 2024 with operations targeted for 2026. Designed as a deep-sea terminal with a 15-meter draft, it can accommodate ultra large container vessels (ULCV) of up to 15,000 TEU. Automated stacking cranes (ASC) and automated guided vehicles (AGV) will be introduced, making this Southeast Asia's first semi-automated port — with Chattogram's handling efficiency projected to improve by 40% compared to current levels.
| Phase | Berths | Handling Capacity | Budget | Target Completion | Key Facilities |
|---|---|---|---|---|---|
| Phase 1 | 3 | 1.2M TEU | $480M | 2026 | ASC yard, 9 RMG cranes |
| Phase 2 | 3 | 1.0M TEU | $380M | 2027 | AGV system, reefer container yard |
| Phase 3 | 2 | 0.8M TEU | $340M | 2028 | LNG bunkering, digital twin |
| Total | 8 | 3.0M TEU | $1,200M | 2028 (full) | Southeast Asia's first semi-automated port |
Korean Firm Participation Opportunities by Sector
Bay Terminal presents diverse participation opportunities for Korean firms. Competitive sectors include port design and supervision, crane and cargo handling equipment supply, yard automation systems, IT systems (TOS — Terminal Operating System), and dredging works. Korean firms with Busan Port automation experience hold strong references in the ASC and AGV systems segment, and JICA loan procurement terms are structured favorably for Japanese and Korean firms.
Financing Structure and Key Risks
Financing is centered on concessional loans from JICA ($500M) and ADB ($400M), with the Bangladesh government's $300M share to be covered from Chattogram Port revenues. JICA loan terms (0.1% interest rate, 40-year tenor, 10-year grace period) are highly favorable, but alignment with IMF fiscal conditions is required. Following the interim government's formation in 2024, ongoing project reviews create a risk of Phase 1 schedule delays.
International Competitor Analysis
| Package | Scope | Value | Procuring Agency | Expected Notice | Korean Competitiveness |
|---|---|---|---|---|---|
| CT-01 | STS Cranes (9 units) | $120M | JICA procurement | Q2 2025 | ★★★★☆ |
| CT-02 | ASC Automated Yard | $85M | JICA procurement | Q3 2025 | ★★★★★ |
| CT-03 | Dredging (15m draft) | $180M | ADB procurement | Q4 2024 | ★★★☆☆ |
| CT-04 | Berth Structures (caisson) | $250M | ADB procurement | Q4 2024 | ★★★★☆ |
| CT-05 | TOS (Port Operating Software) | $15M | CPA self-funded | Q4 2025 | ★★★★☆ |
| CT-06 | Access Roads and Rail | $95M | ADB procurement | Q1 2026 | ★★★☆☆ |