EUR 550 million dredging deal with Luxembourg-based company

The Luxembourg-based dredging company Jan De Nul Group (JDN) signed a Joint-Venture agreement with the Payra Port Authority (PPA) of Bangladesh on the on 11 December 2017 for the Payra Deep-sea Port dredging project, valued EUR 550 million setting up a Jan De Nul Group’s subsidiary the Payra Dredging Company Limited (PDCL) under the Public-Private Partnership (PPP) programme of the GoB.

The Jan De Nul Group will be responsible for the development, dredging and commissioning of the access channel, turning basins, anchorage and berthing areas with the goal to accommodate larger ocean-going vessels.

The JDN and PPA have set out the basis for their long-term cooperation and it will allow them to commence with the vital first phase dredging works. In this first phase, JDN will deploy up to 9 dredgers of it’s fleet, amongst which some of the most powerful Cutter Suction Dredgers in the world. They will reclaim more than 13 million m³ to create land and dredge more than 60 million m³ to kick-start the development of the new Payra Deep-sea Port. Jan De Nul will perform maintenance dredging for a period of 10 years.

During the maintenance period, Payra Port Authority and Jan De Nul intend and aim to develop the Payra Sea Port into a deep-sea port in accordance with the developed Masterplan. The Government of Bangladesh considers the development of the Payra Deep-Sea Port vital for speedy and efficient development of Bangladesh’s infrastructure, trade and commerce.

The GoB has been investing heavily in the transportation and energy infrastructure to support trade driving the economy to higher growth rates and the Payra Deep-sea Port will gradually develop in a major transport hub for the region. Payra Deep-sea Port will serve Bangladesh’s needs for decades to come and is destined to lead the country’s road to prosperity.

Third largest seaport of Bangladesh

Payra Sea Port is the third seaport of Bangladesh, after Chittagong and Mongla. In order to increase the economic activities and contribute to the country’s economic advancement, the National Parliament enacted the Payra Port Authority Act 2013 on 10 November 2013. On 19 November 2013, the Honourable Prime Minister, Sheikh Hasina, inaugurated the country’s third seaport named as Payra Sea Port at Rabnabad Channel at Patuakhali district.