APM Terminals secures Laldia box terminal in Chittagong for 33 years

The APM Terminals, a subsidiary of shipping giant Maersk Line, has been awarded the contract to build and operate the Laldia Container Terminal in Chittagong for a period of 33 years, with a provision to extend the tenure by 15 more years.

The builder will invest about $550 million in the terminal. Against handling each TEU of container, APM Terminals will provide $23 to Chittagong Port under a profit-sharing agreement, much higher than the existing operators of other terminals in Chittagong.