Shipping Minister Shajahan Khan today told parliament that the Payra Seaport will be built on a government-to-government (G-to-G) and foreign direct investment (FDI) basis.

"The government will provide land and build infrastructure for the seaport. The foreigners will invest their money in the project, but the government of Bangladesh would not require any direct financial investment," the minister said replying to lawmakers' queries.

He also said the government has undertaken initiatives to implement the Payra Seaport project in three phases.

The construction of the seaport will be completed by 2023 in the third phase, Shajahan informed the House.

"We would be able to achieve our export and import targets by using the seaport and earn foreign currency through expanding the country's international trade," he added.