The Laldia Container Terminal, located on the upper estuary of Karnaphuli river, was inaugurated yesterday, increasing Chattogram port's container storage capacity by more than 17 percent.

Shipping Adviser Brigadier General (Retd) M Sakhawat Hussain opened the terminal at Patenga of Chattogram, more than a decade after the project received approval.

The new facility adds 10,000 twenty-foot equivalent units (TEUs) to the port's storage capacity, which now stands at 66,000 TEUs, up from 56,000, according to port officials.

The adviser said the expansion would create new opportunities for trade and business.

Once fully operational, the terminal is expected to reduce vessel waiting times and further strengthen the country's main maritime gateway.

Speaking to reporters, Brig Gen (Retd) Hussain said technology, investment and efficiency are crucial for improving Chattogram port's operations.

The adviser said there is potential for $4 to $5 billion in investment around the port.

He also defended the interim government's decision to appoint foreign operators to the port, saying the move would enhance both capacity and efficiency.

Major political parties have been opposing the government's move of leasing out port terminals to foreign firms, citing concerns about national security and interest.

"In advanced countries, most ports are operated by private companies. Why should we lag behind? We want to move forward in the same way," said Brig Gen (Retd) Hussain.

He added that no decisions would be taken against national interest and that priority would go to firms capable of running the port efficiently. "Our goal is to ensure that businessmen get opportunities while protecting the country's interests," he said.

Primarily planned as a bulk-cargo facility, the Laldia Char Terminal was later redesigned as a multipurpose terminal to handle both bulk and containerised cargo.

Built on 14 acres of land, the terminal offers 10,000 container slots and parking for 1,500 trucks. It also includes an eight-acre heavy-lift cargo jetty backup and a 10-acre APM terminal area.

The terminal, approved by the Cabinet Committee on Economic Affairs on March 11, 2013, was built under the public-private partnership model with the Chattogram Port Authority as the implementing agency.

After years of delay due to land acquisition issues, the project gained momentum in fiscal year 2023-24, attracting interest from global investors, including APM Terminals, a subsidiary of Maersk Group.

Senior officials, including Port Chairman Rear Admiral M Moniruzzaman and representatives from several ministries, attended yesterday's inauguration ceremony.