Gautam Adani Calls for Urgent Settlement of $800 Million Power Dues by Bangladesh
- Posted on September 10, 2024
- News
- By Arijit Dutta
- 98 Views
Gautam Adani has urged Bangladesh's chief advisor to expedite the clearance of $800 million owed by the Bangladesh Power Development Board. This payment delay affects Adani Power's operations, which are crucial for maintaining the energy supply from its Jharkhand plant.
Gautam Adani, Chairman of the Adani Group, has formally requested Muhammad Yunus, the chief advisor to the Bangladesh government, to accelerate the payment of $800 million owed by the Bangladesh Power Development Board (BPDB). This amount represents outstanding dues for electricity supplied by Adani Power.
In his recent correspondence, Adani expressed urgency over the delayed payments, which have been pending for eight to nine months. He highlighted the financial strain on his company due to the overdue payments and requested regular settlement of routine bills along with substantial monthly payments to clear the outstanding balance. The request underscores the commitment of Adani Power to continue its power supply from its 1.6 GW coal-fired plant in Jharkhand, which began operations last June.
Adani's appeal comes at a critical time as his company has invested significantly—$2 billion—in developing the plant and related transmission infrastructure. He reassured his ongoing dedication to Bangladesh’s energy needs and infrastructure development while also emphasizing the importance of timely payments for maintaining operational efficiency.
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The Adani Group’s contributions extend beyond energy, including involvement in the country's food supply through popular brands like Rupchanda and Meizan. Adani acknowledged the support received from local communities and authorities, reinforcing his company's role in strengthening bilateral economic ties.
This financial matter has been closely watched as it impacts not only the operational stability of Adani Power but also the broader energy cooperation between India and Bangladesh.
