Original disclosure @ IFC website
Updated in EWS Jun 1, 2022
Disclosed by Bank Jan 20, 2022
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According to IFC, together with PSA International Pte Ltd (“PSAI”), they are collaborating on the co-development of a new container terminal in Ananda Bazar, North Halishohor, Bangladesh (“the Project”). The Project is being developed under a Government-to- Government Public Private Partnership approach. PSAI is currently carrying out its feasibility studies for the Project.The coastal area adjacent to Halishahar, Chattogram, Bangladesh has been identified for the establishment of the Project.
Subject to being awarded, PSAI is expected to be the lead developer of the Project and will work together with IFC as co-developers. PSA may invite other partners as co-developers of the Project. The Project footprint will be located in the larger area of the Bay Terminal port project, under development by the Chattogram Port Authority (CPA). CPA’s broader Bay Terminal port development is not part of the Project proposed to be financed by IFC. IFC and PSAI are working together through an early stage, upstream Joint Development Agreement, under which IFC is expected to contribute up to $3.0 million to the development budget for project development expenses. This is a nationally critical project which is expected to be the first-ever private port concession in Bangladesh. It will contribute to more efficient trade flows for Bangladesh, improving Bangladesh's connectivity with the regional economy.
PSAI was established in 1964 and is a wholly owned subsidiary of Temasek Holdings (Pte) Limited, an investment company wholly owned by Government of Singapore (GoS), headquartered in Singapore. PSA’s portfolio comprises a network of over 50 coastal, rail and inland terminals in 19 countries.
PSA International Pte Ltd.
Lee Peng Gee
Vice President, Group Business Development
1 Harbour Drive, #03-00 PSA Horizons, Singapore 117352
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