New Delhi: Bangladesh has said that the country is going ahead with the $4.5 billion Adani Power Project as it does not have “any issues” with the Indian conglomerate and that it is an “important project” of Bangladesh. “We are not having any issues with the Adani (power) project. It is done and it is moving," Minister of State for Foreign Affairs of Bangladesh Md. Shahriar Alam told ABP Live.
“It (the project) is progressing … (Power purchasing agreement is agreed) That’s all agreed. I don’t have the details. I am not the line minister. But it’s all agreed and it’s moving,” the minister said.
“It’s a very important project for Bangladesh,” he added, refuting claims that the project will not go through.
The deal was signed between Adani Power and the state-run Bangladesh Power Development Board (BPDB) in November 2017.
The deal also entailed the construction of a $1.7 billion power manufacturing unit in Jharkhand’s Godda district for supplying power to Bangladesh.
Ever since Gautam Adani got embroiled in a row, following short-seller Hindenburg Research'sreport, and it led to a fall in the group's fortunes, reports have been coming in that all the projects run by the firm, including the one in Bangladesh, are facing issues.
Dhaka is worried that the Indian government is seeing this as a private deal and not pushing the embattled billionaire to expedite the project.
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BPDB has sought a revision to the power purchase agreement (PPA), according to a report in the local newspaper Prothom Alo. This is because Bangladesh was not able to procure a provision of discounts for itself, and Dhaka will have to pay an inflated price, the report said.
Bangladesh Prime Minister Sheikh Hasina will be visiting India in September as Bangladesh has been invited as a ‘Guest Country’ to attend the G20 Summit to be hosted by India under its presidency.