The Executive Committee of the National Economic Council (Ecnec) is expected to approve the development project proposal (DPP) for breakwater construction and access channel dredging at the Bay Terminal of the Chattogram port in mid-March.

Chittagong Port Authority (CPA) Chairman Rear Admiral SM Moniruzzaman shared the information today, adding that once the DPP is approved, a loan agreement with the World Bank will follow, enabling the start of physical work.

He was speaking at a press briefing at Shaheed Fazlur Rahman Munshi Auditorium in the port city.

In June last year, the World Bank approved a $650 million loan for this part of the project.

The Bay Terminal, featuring two container terminals and a multi-purpose terminal, will handle around 5 million twenty-foot equivalent units (TEUs) of containers, up from the port's current capacity of 3.2 million TEUs.

Moniruzzaman termed the project a "game changer" for the economy.

A senior CPA official said a pre-Ecnec meeting on the DPP is scheduled for March 6, with final approval expected on March 14.

He noted that no new multi-modal connectivity is required as railway, roadway, and river links already exist.

The new terminal will be operational immediately upon completion.

Currently, vessels with 1,800-2,000 containers berth at the port.

After dredging, the 12-14 metres deep channel will allow vessels carrying 5,000-6,000 containers to navigate around the clock.

The CPA is expanding port capacity with cargo and container handling growing by 10 percent annually.

It has accelerated the clearance of over 10,000 auctionable containers with the NBR's help and is integrating its terminal operating system with the Asycuda World software for automation.