Dhaka, Nov. 18 -- MEDLOG, a Switzerland-based world leader in inland logistics, will manage and operate the Pangaon Inland Container Terminal (PICT) near Dhaka for 22 years.

A concession agreement was signed to this end between the Chittagong Port Authority (CPA) and MEDLOG Bangladesh Private Ltd at a hotel in the capital on Monday.

CPA Chairman Rear Admiral SM Moniruzzaman and MEDLOG Bangladesh Managing Director ATM Anisul Millat signed the agreement on behalf of their respective sides, a statement said.

Shipping Adviser Brigadier General (retd) M Sakhawat Hussain, who was present at the signing ceremony as the chief guest, called the day "a red-letter day for Bangladesh".

He said the PICT was built as a beautiful, strategically loca...