Dhaka, July 16 - Bangladesh will begin construction of a new deep sea port by 2010-end that it says will boost the country's economy and help the entire South Asian region gain access to the sea.

The cabinet was informed Wednesday said that Japan's Pacific Consultation International, in association with four other firms, conducted the feasibility study, and finally selected Sonadia Island as the best site for the deep-sea port.

'The port will come into operation in the fiscal year 2016-17, as we hope to complete construction of the first phase by 2015 at a cost of 13,000 crore taka ($1.89 billion),' Shipping Minister Mohammad Afsarul Amin said after the meeting.

The second phase will be completed in 2035 at a cost of Tk 26,000 crore, and it will turn into a modern full-fledged international port with the completion of the final phase of construction by 2055. The final phase will cost Tk 1,100 crore.

Afsarul Amin said it will take a year to have a complete design of the port, adding that the project will be sent to the Economic Affairs Division before its submission to the cabinet.