Industrialist Gautam Adani (file photo)Image credit source: PTI
Billionaire industrialist Gautam Adani’s business spans many countries around the world. He is also working on many infrastructure and energy projects in India’s neighbouring country Bangladesh. In such a situation, amid political instability in Bangladesh, Gautam Adani has asked the interim government to make his payment of $500 million (around Rs 4,200 crore) soon.
Following the ouster of Bangladeshi Prime Minister Sheikh Hasina, an interim government was formed under the leadership of Nobel laureate Mohammad Yunus. Gautam Adani has warned this government to immediately pay the outstanding payment for the power project.
Having to pay the loan amount to the lender.
In a report by the Financial Times, based on the statement issued by the Adani Group, it is said that despite mounting financial challenges, it is committed to providing power supply to Bangladesh. Adani Group is in continuous talks with the interim government of Bangladesh.
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Adani Group says the interim government has been aware of the challenge (unsustainability) of this project, because we not only have to complete the power supply but also pay the dues of those from whom we have taken loans. This has become very difficult because the payment from Bangladesh is pending.
The Adani Group supplies electricity to Bangladesh from the Godda power plant in India. This is a coal-fired power plant with a capacity of 1,600 MW. At the same time, the new interim government of Bangladesh has accused the infrastructure deals concluded during the time of former Prime Minister Sheikh Hasina of being expensive.
Bangladesh expects help from the World Bank
At present, the electricity crisis is increasing in Bangladesh. The reason for this is the increase in its financial obligations related to electricity. At present, Bangladesh’s electricity-related debt has exceeded $3.7 billion (about Rs 31 billion).
Muhammad Faujul Kabir Khan, chief energy adviser to the interim government of Muhammad Yunus, says Bangladesh is waiting for financial help from the World Bank and other global institutions to stabilise its economy. The interim government is trying.
