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The Pangaon Inland Container Terminal (PICT) at West Keraniganj in Dhaka district has commenced operation under the management of MEDLOG Bangladesh Private Ltd.
The operation was formally inaugurated on Saturday on the premises of the terminal, a strategically located facility near the capital, with the aim of enhancing inland container movement and strengthening multimodal connectivity, accordign to a press statement.
MEDLOG Bangladesh Private Ltd, a concern of Switzerland-based global leader in inland logistics MEDLOG, will operate, manage and modernise the terminal in partnership with the Chittagong Port Authority (CPA) under a 22-year concession agreement signed two months ago.
Brigadier General (Retd) Dr M Sakhawat Hussain, Shipping Adviser, attended the program as the chief guest. Dr Nurun Nahar Chowdhury, Secretary of the Ministry of Shipping, and Rear Admiral M Moniruzzaman, Chairman of the Chittagong Port Authority, were present as the special guests.
A. T. M. Anisul Millat, Managing Director of MEDLOG Bangladesh Private Ltd, delivered the welcome speech, outlining the vision and operational roadmap of the terminal under MEDLOG’s management.
The government bestowed the operation and management of the container terminal on MEDLOG as the facility was sustaining losses. Built at a cost of around Tk 1.55 billion, the terminal had accumulated significant operational losses over the past decade.
The concession agreement is expected to reverse that trend and facilitate government’s earning of huge revenue by introducing global best practices, advanced technology and efficient operational management.