Payra Sea Port Dredging Concession

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The project involves a concession agreement with the Government of Bangladesh, represented by the Ministry of Shipping and acting through Payra Port Authority for the capital and maintenance dredging of the Rabnabad Channel at Payra Port in Bangladesh. Payra Port Authority and Jan De Nul Group established Payra Dredging Company Ltd (51% and 49% stakes, respectively). Jan De Nul Group will be responsible for the development, dredging and commissioning of the access channel, turning basins, anchorage and berthing areas with the goal to accommodate larger sea-going vessels. Once the capital dredging works complete, the sponsor will perform maintenance dredging for a period of 10 years. The Public-Private Partnership (PPP) contract which is valued at EUR 550 million or $ 647.26 million was awarded on 11 December 2017, while the agreement was signed on 14 January 2019. Reportedly HSBC is leading a consortium is providing a loan to Payra Dredging Company, with support from Belgium export credit agency Credendo. https://www.jandenul.com/en/pressroom/press-releases/important-concession-for-jan-de-nul-in-bangladesh https://www.jandenul.com/en/pressroom/press-releases/jan-de-nul-group-has-entered-in-a-joint-venture-company-agreement-with-the