Two firms, China Harbour Engineering Company (CHEC) and China State Construction Engineering (CSCEC), have entered into two separate memorandums of understanding (MoU) to develop two of the 19 components of Payra deep-sea port in Bangladesh.

Under the $600m deal, CHEC will construct the main port infrastructure, while CSCEC will be responsible for the riparian aspects will build housing, healthcare and education facilities in the port.

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The newly signed MoU also includes the development of the port’s main structure, which features constructions of the road and bridge linking the port, as well as other necessary structures, sewerage line, link roads, and rail lines.

"The Bangladesh Government is planning to complete the main structure of Payra port by 2023."

The Bangladesh Government is planning to complete the main structure of Payra port by 2023.

Currently, port development work has been carrying out in several short, mid and long-term phases.

Bangladesh shipping minister Shajahan Khan was quoted by Dhaka tribune as saying: “The port authority has already bagged BDT17cr ($2m) as revenue in four months after the inauguration of the port.”

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Both, CHEC and CSCEC will begin their work after finalising the financial agreements in relation with the Payra port development.

In August this year, partial operation was started at Payra port.

Currently, the port has been developed across an area of more than 7,000ac of land on the west bank of Ramnabad Channel in Patuakhali, Kolaparha, Bangladesh.

The infrastructure of the port will be developed with an investment of BDT11.44bn ($140m), reported bdnews24.com.