Dhaka, May 22 -- The government is extending the tenure of a memorandum of understanding (MoU) under which the Abu Dhabi Ports Group wants to invest in the potential port sector of Bangladesh, while an impasse keeps other scrambling foreign investors at bay.

An impasse over appointment of a foreign operator for New Mooring Container Terminal (NCT) has been persisting for some time now amid contentions.

The AD Ports Group had signed the non-binding Memorandum of Understanding (MoU) with the Chittagong Port Authority (CPA) one year back and its tenure expired last week, officials said.

Under the MoU, AD Ports Group had planned to invest $1.0 billion in construction of a multipurpose terminal under the Bay Terminal project near the Chitta...