Major Milestone in the Bilateral Ties between Bangladesh and Singapore
The Shipyard Project at Payra Sea Port has achieved a major milestone in the bilateral ties between Bangladesh and Singapore. The project is a joint venture between the two countries and is part of the development of the Payra Port, which was established in 2013 and is now Bangladesh’s third-largest seaport. The completion and full operationalization of the Payra Port has encountered several difficulties due to its location near the Sunderbans and the potential biodiversity and habitat loss its development would entail. However, the development of the Payra Port area is in full swing, and the Shipyard Project is a significant step forward in the port’s growth.
The Shipyard Project at Payra Sea Port is expected to create jobs and boost the local economy. The shipyard will be built on 36 acres of land and will have the capacity to build and repair ships up to 100,000 deadweight tonnage (DWT). The shipyard will be equipped with modern facilities and technology, including a floating dock, a slipway, and a repair workshop. The project is part of a larger plan to spur industrialization in Bangladesh, which includes the construction of the Padma Bridge and the Matarbari Port.
The completion of the Shipyard Project at Payra Sea Port is a significant achievement for Bangladesh and Singapore and is expected to have a positive impact on the region’s economy. The project is a testament to the strong bilateral ties between the two countries and their commitment to economic development. The project is also expected to contribute to the growth of the shipbuilding industry in Bangladesh and position the country as a major player in the global shipbuilding sector.
