NEW DELHI ¨C Japan is beating out China in a race to build Bangladesh¡¯s first deep-water port as the region¡¯s powers jostle for a foothold in the Indian Ocean.
Construction of the 18-meter-deep port at Matarbari on Bangladesh¡¯s southeast coast is set to start by January, the Japan International Cooperation Agency said in an emailed response to questions from Bloomberg News. That¡¯s bad news for a stalled China plan to build a port about 25 km (15 miles) away.
¡°I¡¯d imagine there¡¯s only room for one port,¡± said Krispen Atkinson, a maritime analyst at IHS Inc., citing the cost to build railway lines and approach channels. ¡°There are probably political reasons behind it as well. If you¡¯re looking to build a port and want Western support as well, would a port financed by China be the favored option?¡±
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