The new interim government of Bangladesh is now preparing to investigate businesses related to India. The name of Adani Group is also included in these. It is reported that the power agreement is to be investigated under this. Earlier it was being said that the interim government led by Mohammad Yunus can also end the previous agreements with India after investigation. The government of then Prime Minister Sheikh Hasina fell after the violence in early August.
According to the Indian Express report, the interim government will also investigate the deal made with the Adani Group in 2017, under which electricity is supplied from the Jharkhand unit. According to the report, the interim government wants to know the terms of the agreement and also wants to find out whether the price being paid for it is reasonable or not.
Talking to the newspaper, a member of the interim government said, ‘Indian businesses like Adani Business will be investigated… What kind of contracts have been signed, what are the conditions, there cannot be a foreign company that does not follow local laws.’ He said, ‘These investigations will be done. It will be shown as targeting Indian businesses, but no… they have to be investigated as to what they are doing here, how much money Bangladesh is paying and whether it is justified or not. All these questions will arise.’
what was the deal
In November 2017, Adani Power (Jharkhand) Limited signed a 1496 MW power purchase agreement with the Bangladesh Power Development Board for 25 years. Under this, Bangladesh will buy 100 percent of the power generated at the Godda plant. According to the newspaper, during April-June 2023, the Godda plant supplied 7 to 10 percent of Bangladesh’s base load.
What did the Adani group say
Speaking to the newspaper, a spokesperson for the Adani Group said, “We have no information about the Bangladesh government investigating our PPA. In the spirit of true partnership, we continue to supply electricity to them despite huge dues. We are in full contact with the Bangladesh authorities and have asked for early payment as it is affecting our work.” The report quoted a Financial Times report as saying that Adani has warned the interim government of Bangladesh about dues of more than $ 500 million.