Singapore keen to invest $1 billion in Bay Terminal

Singapore has expressed strong interest in investing a significant amount in the under-construction Bay Terminal project at Chattogram Port. The country has indicated a desire to invest approximately 800 million to 1 billion US dollars in the terminal's infrastructure development. Singapore-based firms have also shown interest in taking over the management of the Bay Terminal.

Singapore's non-resident High Commissioner Derek Loh made the announcement during a courtesy meeting with Commerce Minister Khandaker Abdul Muktadir at the Secretariat on Tuesday, May 19.

Loh stated that Singapore is keen to expand business and investment in Bangladesh, describing the Bay Terminal project as a "significant and landmark" initiative. He noted that this investment would play a crucial role in developing Bangladesh's trade infrastructure and help attract further foreign investment in the future.

The Bay Terminal is being constructed over approximately 6.25 kilometres, stretching from the back of the EPZ area at Chattogram's Patenga sea beach to Rani Rashmoni Ghat. Once operational, the terminal will be capable of berthing vessels with a 12-metre draft and 300 metres in length, increasing the port's capacity, reducing congestion, and cutting cargo handling time.

Loh said the Bay Terminal would increase port efficiency, reduce demurrage and other delay-related costs, and ensure significant business savings for Bangladeshi exporters.

The government approved the Bay Terminal infrastructure development project in April 2025 at an estimated cost of Tk 13,525 crore, with the World Bank providing Tk 9,333 crore and the remainder from government funds. Several other terminals are also planned under public-private partnerships.

Singapore-based multinational PSA International has shown interest in constructing and operating the first terminal of the Bay Terminal, while global port operator DP World is also in the running.

The meeting also discussed reducing the trade deficit between Bangladesh and Singapore, cooperation in renewable energy, agricultural exports, food security and environmentally friendly industries.

Commerce Minister Muktadir said Bangladesh has now become a promising destination for foreign investment due to its improved infrastructure, skilled workforce and investment-friendly environment.