Adani Group Chairman Gautam Adani has warned the new interim government of Bangladesh. Adani Group has been given this warning due to delay in payment. Adani Group supplies electricity to Bangladesh. Adani Group has a total debt of 800 million dollars (6720 crore rupees) to Bangladesh. Of that, about $500 million (roughly Rs. 4200 crore) is outstanding. This amount is constantly increasing. If Bangladesh delays payment, electricity supply to Bangladesh may be affected.
A challenge for the new government
Recently, due to internal strife in Bangladesh, Sheikh Hasina had to resign from the post of Prime Minister and leave the country. After this, a new interim government was formed in Bangladesh under the leadership of Nobel laureate Muhammad Yunus. The new government is delaying payment of electricity to Adani Group. According to a private portal report, Bangladesh is owed $500 million in payments. This lack of payment has emerged as a serious challenge for the Yunus administration.
Yunus termed the electricity deal as an expensive deal
Yunus described such agreements as expensive deals that were made during Sheikh Hasina's tenure. It also includes this electricity contract with the Adani Group. Let us tell you that Adani Group supplies electricity from its 1600 MW Godda plant. This electricity is also supplied to Bangladesh.
Supply will continue
In a statement, Adani Power said it will continue to supply electricity to Bangladesh despite growing financial stress. The company said that we are in constant communication with the Bangladesh government and have made them aware of this volatile situation. “We are not only meeting our supply commitments, but also meeting our commitments to our lenders and suppliers,” the company said. The company said that currently our Godda plant is not connected to the Indian grid. In such a situation there is no question of finding an alternative supply market.
Bangladesh is seeking help from the World Bank
Muhammad Faizul Kabir Khan, Chief Energy Adviser to Yunus, said that Adani Group owes a total of $800 million, or $800 million (Rs 6720 crore), to Bangladesh. Of that, $492 million is outstanding. He said the interim government is seeking financial assistance from international lenders, including the World Bank, to stabilize its economy.
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