Indian, Bangladeshi cos ink pacts worth over USD 9 bn

Companies from India and Bangladesh today signed pacts worth over USD 9 billion here aimed at deepening partnership in sectors like power and oil and gas.

Among the MoUs signed in the presence of visiting Prime Minister Sheikh Hasina is a facility agreement between Bangladesh India Friendship Power Company (BIFPCL) and Exim Bank of India for debt financing for construction of 1,320 mw Maitree Power Project in Rampal in Bangladesh (USD 1.6 bn).

The MoUs include an implementation and power purchase agreement between Reliance Power and the Ministry of Power, Energy and Mineral Resources for the first phase (718 mw) of the 3,000 mw power project at Meghnaghat, entailing USD 1 billion (out of a total proposed investment of USD 3 billion).

The agreement between NTPC Vidyut Vyapar Nigam (NVVN) and Bangladesh Power Development Board for supply of power from Nepal envisaged an investment of USD 3.15 billion.

The event also saw signing of pact between Adani Power (Jharkhand) and the Bangladesh Power Development Board entailing an investment of USD 2 billion and a power purchase agreement between Adani Power (Jharkhand) and Power Grid Company of Bangladesh.

Besides, the MoUs signed include those on LNG terminal use between Petronet LNG, India and Bangladesh Oil, Gas and Mineral Corporation (Petrobangla), among others.
The MoU-signing ceremony was organised by CII.