Gautam Adani: Adani Group’s company Adani Power has $800 million stuck in neighboring country Bangladesh. Now the company led by Gautam Adani is pressuring Bangladesh to pay this amount. The interim government formed after the violent protests to remove Prime Minister Sheikh Hasina in Bangladesh is fully aware of this issue. Bangladesh Bank’s new governor Ahsan H Mansoor has said that if we do not pay this amount to Adani Power, they will stop giving us electricity.
Supply is done from Adani Power’s Jharkhand plant
This electricity is supplied to Bangladesh from Adani Power’s plant located in Godda district of Jharkhand. Governor Ahsan H Mansoor told Bloomberg in an interview that the interim government is trying to resolve this issue. Sources have informed that at present Adani Power has no plans to cut off electricity. It is in talks with the government. But, if creditors and coal suppliers put pressure on the company, it may have to take tough steps.
Adani Group has rapidly expanded its reach outside India
In the last few years, the Adani Group has rapidly expanded its business outside India. Along with Bangladesh, this business group has also started its operations in Sri Lanka, Bhutan and Nepal. But, delay in electricity payment can have a bad effect on these plans. Prime Minister Narendra Modi’s government also wants to expand Indian business groups in neighboring countries. Gautam Adani had informed about the start of Godda Power Plant in the year 2022 on the social media platform X.
NTPC and PTC India also supply electricity to Bangladesh
Along with Adani Power, India’s NTPC and PTC India also supply electricity to Bangladesh. However, so far it has not been revealed what is the status of payment of these companies. After the fall of the Sheikh Hasina government, the interim government is facing an economic crisis. They have to make payments of about 2 billion dollars. This also includes payments to airlines. The country’s foreign exchange reserves are also depleting rapidly. The country has only 3 months of money left for imports. The interim government has also knocked on the door of the IMF.
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