Indian and Bangladesh companies sign energy sector agreements worth $9 billion

Indian and Bangladeshi companies have signed agreements worth $9 billion to strengthen their partnership in the energy sector. The deals include a facility agreement between the Bangladesh-India Friendship Power Company (promoted by the Bangladesh Power Development Board [BPDB] and NTPC Limited) and the Exim Bank of India for providing debt financing for the construction of the 1,320 MW Maitree power project in Rampal, Bangladesh, at a cost of $1.6 billion. A $3.15 billion agreement was signed between NTPC Vidyut Vyapar Nigam Limited and BPDB for the supply of power. Further, Reliance Power Limited has signed a $1 billion deal with Bangladesh’s Ministry of Power, Energy and Mineral Resources for the first phase (750 MW) of the 3,000 MW Meghnaghat power project in Bangladesh. Adani Power Limited has signed an agreement to supply 1,600 MW of power from its plant in Jharkhand to Bangladesh at a cost of $2 billion.