BANGLADESH is set to significantly boosts its trade infrastructure by investing around BDT20 billion (US$182 million) in new Inland Container Depots (ICDs), aiming to increase its annual container handling capacity by over 30,000 TEU.

This development comes as AK Khan and Company Ltd, along with Container Company of Bangladesh Ltd (CCBL), received preliminary approval from the National Board of Revenue (NBR) to establish additional off-docks in the strategic port city of Chittagong, reports Hong Kong's BNN Breaking.

The investment in new ICDs marks a pivotal moment for Bangladesh's trade and logistics sector. Currently, the country operates nineteen private ICDs with a combined annual capacity of 76,000 TEUs of containers.

The addition of these facilities is expected to alleviate congestion at Chittagong port by facilitating smoother and more efficient container handling.

On February 11, the Customs Export and Bond wing of the NBR issued approval letters to AK Khan and CCBL, outlining specific conditions for operation including a mandatory one-year period for handling empty containers before transitioning to full operations.

In an effort to reduce traffic congestion and improve logistical efficiency, the NBR has made strategic adjustments to its policies regarding the location of off-docks. Notably, it has relaxed the rule that required off-docks to be situated at least twenty kilometres away from the port.

The strategic expansion of Bangladesh's ICDs is a testament to the country's proactive approach to addressing logistical challenges and bolstering its trade capabilities. As these new facilities become operational, they are expected to play a crucial role in streamlining container handling processes, reducing congestion, and ultimately supporting the nation's economic growth.