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Overview

Cancelled- Chinese EXIM Bank and China Harbour to build port in Sonadia, Bangladesh

Commitment Year•2014Country of Activity•BangladeshSector•Transport And StorageFlow Type•Vague TBD

Status

Project lifecycle

Cancelled

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 1, 2014

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

Government Agencies

  • Unspecified Chinese Government Institution

Implementing agencies

State-owned companies

  • China Harbour Engineering Co., Ltd. (CHEC)
  • China State Construction Engineering Corporation (CSCEC)

Loan desecription

Cancelled- Chinese EXIM Bank and China Harbour to build port in Sonadia, Bangladesh

Narrative

Full Description

Project narrative

In June 2014, the Prime Minister of Bangladesh’s Office announced plans to have China Harbour Engineering Company (CHEC) construct the deep seaport at Sonadia as a part of China’s Maritime Silk Road. A June 2014 report from The Financial Express stated that the CHEC would receive either a concessional loan or a preferential buyers credit from the Chinese EXIM bank to fund the project. In January 2012, the cabinet of Bangladesh approved initial plans to create the Sonadia port. Bangladeshi PM Sheikh Hasina visited Beijing in July 2014 and was expected to sign an MoU on the Sonadia port. In February 2016, Bangladesh canceled the Sonadia port project. The official reason for canceling the project was that the Sonadia port would be too close to the Japanese-funded Matarbari port. However, the cancellation also came after Japan, the USA, and India spoke about their security concerns over China developing the port.