Dhaka, March 1 -- Construction cost of the Payra Sea-Port terminal and associated facilities has increased significantly due to delay in project implementation, currency depreciation, and pandemic-induced disruptions.

The total project cost is now expected to rise by approximately Tk 14.46 billion, officials confirmed.

During the Covid-19 pandemic, when global trade was facing uncertainty, the Ministry of Shipping signed agreements with several Chinese companies to construct the Payra Sea Port terminal, even amid lockdown restrictions.

However, work was disrupted due to the pandemic, leading contractor companies to demand over Tk 8.0 billion in compensation.

Additionally, the significant depreciation of the taka over recent years has ...