Adani Group chairman Gautam Adani has reached out to chief advisor to Bangladesh’s interim government, Muhammad Yunus, seeking his intervention in the early clearance of $800 million of receivables due from Bangladesh Power Development Board to Adani Power for electricity supplies, reported Hindustan Times.
New Age reached out to the chief advisor’s press wing for a comment over the matter hours after Indian media published the report on Tuesday but received no reply until filing the report at 9:00pm.
The Hindustan Times, quoting The Economic Times, reported that Gautam Adani in a letter wrote, ‘The lenders have now been severe on us as we continue to meet our commitment to Bangladesh. I would request for your kind intervention in early liquidation of $800 million of receivables due from Bangladesh Power Development Board.’
Adani said, ‘May we request for regular payment of routine bills as we continue with our commitment on supplies and in addition significant tranches be made each month to liquidate outstanding dues.’
This comes as it was reported that the Bangladesh Power Development Board owes Adani Power $800 million in power supply dues for a period of eight to nine months, said the Hindustan Times report.
Adani Power supplies electricity to Bangladesh from its 1.6 GW coal-fired power plant in Jharkhand through a dedicated transmission corridor which it began from June 2023.
Gautam Adani said that Adani Power had invested $2 billion in building a state-of-the-art plant and associated transmission infrastructure, adding, ‘I would like to reiterate our commitment to your country’s energy security and infrastructure development.’
‘We contribute to Bangladesh’s food supply through popular edible oil and premium rice brands such as Rupchanda, Meizan, and Fortune,’ he said, asserting that he appreciates the support and cooperation received from authorities, local communities and stakeholders in the country.
new age