1. Energy ties in focus as India, Bangladesh companies sign 13 pacts

Energy ties in focus as India, Bangladesh companies sign 13 pacts

A Bangladeshi business delegation led by Prime Minister Sheikh Hasina on Monday announced signing of 13 MoUs, with the energy sector emerging as the frontrunner.

By: | New Delhi | Published: April 11, 2017 6:45 AM
Narendra Modi, sheikh hasina Hasina called upon the Indian business fraternity to invest in the country, which intends to be middle-income and digital by 2021, and a developed country by 2041. (PTI)

A Bangladeshi business delegation led by Prime Minister Sheikh Hasina on Monday announced signing of 13 memorandums of understanding (MoUs), with the energy sector emerging as the frontrunner. Of the 13 pacts signed, estimated to be worth over $9 billion, nine are related to various energy needs of the neighbouring countries. The MoUs include Bangladesh India Friendship Power Company and Exim Bank of India agreement on debt financing for construction of the 1,320-MW Maitree Power Project in Rampal, Bangladesh at an estimated cost of $1.6 billion, and an agreement between NTPC Vidyut Vyapar Nigam and Bangladesh Power Development Board for supplying power from Nepal, with an investment of $3.15 billion, among others.

Speaking at an event organised by CII, petroleum minister Dharmendra Pradhan said that India remains committed to help Bangladesh achieve power for all by 2021. A host of agreements were signed during the visit of the Bangladeshi premiere including supply of high-speed diesel, supply of gas to power projects, and exploring opportunities in the upstream space. “India and Bangladesh are deepening their co-operation and energy ties will be one of the prominent focus areas,” said Pradhan.

Hasina called upon the Indian business fraternity to invest in the country, which intends to be middle-income and digital by 2021, and a developed country by 2041. She assured that Bangladesh will provide all possible help and facilitate a congenial business environment for doing business. The other four pacts signed on Monday were in the fields of container transportation, medical services, veterinary sciences and education.

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