Luxembourg-based dredging company Jan De Nul Group (JDN) signed on 11 December a Joint Venture Company agreement with its partner Payra Port Authority (PPA) for the Payra Deep-sea Port EUR 550 million dredging project.
As explained, the Government of Bangladesh considers the development of Payra Deep-sea Port vital for speedy and efficient development of Bangladesh’s infrastructure, trade and commerce. To support its crucial role in the country’s economic growth, successful operation of the new port requires dredging and land reclamation works.
Under this agreement, 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 its fleet. 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.
The Government of Bangladesh has been investing heavily and constantly 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.