This
will be the third overseas port operation by India as New Delhi rapidly sheds reticence in foraying
abroad to expand its commercial interests in the ports and shipping
sector.
The terminal at Mongla will be managed
by India Ports Global
Ltd (IPGL). A senior official from the Ministry of Ports, Shipping and
Waterways said that IPGL will henceforth be the preferred
entity for India’s international port operations.
Mongla
is Bangladesh’s second-largest port. It lies close to the shore of the Bay of
Bengal and the Pashur River.
Bangladeshi ports have been groaning
under soaring traffic volumes in recent years, in line with the country’s
emergence as a significant exporter, particularly for garments. Significant
expansion has been earmarked for all of the country’s major ports.