BUSINESS
Adani Power has further reduced electricity supply to neighbouring Bangladesh as it seeks to recover more than $800 million in dues
According to data from Bangladesh's grid operator and two people familiar with the decision, Adani Power has further cut the electricity supply to neighbouring Bangladesh in an effort to recoup more than $800 million in unpaid debt.
Adani Power lowered its supply this month from approximately 1,400–1,500 MW in early August to 700–750 MW. From its dedicated 1,600 megawatt (MW) Godda plant in the eastern Indian state of Jharkhand, Adani Power exports electricity to Dhaka.
Data from Power Grid Bangladesh and a representative of the Bangladesh Power Development Board (BPDB) indicate that the supply was further cut to roughly 520 MW late on Thursday.
”We are gradually paying the dues and will take alternative measures if anyone stops the supply. We will not let any power producer hold us hostage,” Muhammad Fauzul Kabir Khan, power and energy adviser in Bangladesh’s caretaker government, told Reuters on Thursday.
Despite expediting payment of dues and lifting Adani's Nov. 7 payment deadline, Bangladesh still receives a decreased supply, according to the BPDB official.
This week, Reuters reported that the struggling South Asian nation was speeding up payments and had created a $170 million letter of credit for Adani.
On reduction in power supply, Adani Power did not respond to queries from Reuters
The power supply has been gradually reduced based on demand from Bangladesh as well as keeping payment dues in mind, a source at Adani Power told Reuters.
The Bangladeshi board and Adani Power officials spoke on condition of anonymity as they are not authorised to speak to the media.
Bangladesh has been struggling to pay its bills due to costly fuel and goods imports since Russia invaded Ukraine in 2022. The political turmoil that led to the ouster of Prime Minister Sheikh Hasina in August has also compounded its troubles.
J-K: Police recover bodies of two village defence guards killed in Kishtwar terror attack
Bengaluru-Chennai expressway to slash travel time to 3 hours: 71-km stretch to open on...
Amid Champions Trophy row, India to face arch-rivals Pakistan on THIS date
BIG move by Gautam Adani, as Adani Power cuts Bangladesh supply by over 60% due to...
PM Modi attacks Congress in Nashik rally, says party wants to create rift among OBCs
Health Insurance Claim Process: A Step-by-Step guide
Ali Haider emerges as a young, driven digital disruptor with ConnectPR
ACIBADEM LabMed Laboratories ensures high standards in medical testing
THIS is world's highest-valued currency, not dollar, pound, euro
'Forgive me if...’: Justice DY Chandrachud's final message as Chief Justice of India
Watch: KL Rahul's brain fade leads to bizarre dismissal in India A vs Australia A match
Meme fest erupts after Biden delivers speech with smiling face, netizens say, 'He voted for Trump'
Viral video: Netizens react in shock as woman washes hair with toxic foam from Yamuna river, watch
How Trump’s ‘America First’ policy opens doors for India’s regional power
42-year-old retired player breaks silence on registering for IPL, says, 'I have never...'
'Main pairon mein gir gaya': Virat Kohli recalls memorable encounter with Sachin Tendulkar - Watch
Is kala namak really a detox? Shalini Passi swears by this simple health hack
BIG blow to Mukesh Ambani, as Reliance Industries loses over Rs 4 lakh crore in...
West Indies fast bowler Alzarri Joseph suspended for two ODIs; here's why
Himachal CM Sukhu's samosas, cakes served to security staff; CID probe on
'Conspiracy against Kashmir': PM Modi slams NC-Cong's Article 370 resolution
Meet Tamanna Bharat, who is all set to represent India at Miss Asia Global 2024 in Kerala
Bengaluru coconut vendor's viral ad challenges Zepto, Blinkit prices, netizen says 'let him cook'
Vvan: Sidharth Malhotra drops motion poster of folk mythological thriller, Kiara Advani reacts
Virat Kohli gets embarrassed as crowd sings 'Happy Birthday to you' in live event, WATCH viral video
Gym and fitness is all about overall health, not just good looks: BigMuscles Nutrition’s Suhel Vats
Station master's phone call with ex-wife led to Rs 3 crore loss to railways, know how
Uproar in J-K Assembly as BJP members protest over special status resolution
Aligarh Muslim University entitled to minority status under Article 30: SC
Collaborative global response a must to combat climate change effectively: Dr Sanju Purohit
Viral: Man rants about his GenZ colleague's leave to heal from breakup, gets trolled
Splitsvilla, Crime Petrol-fame actor Nitin Chauhaan passes away at 35 allegedly by suicide
Worrying signs for Mukesh Ambani's Rs 840960 crore company? Elon Musk will push Donald Trump to...
Have Virat Kohli, Anushka Sharma moved back to Mumbai? Here's what we know
Mukesh Ambani, Nita Ambani are fond of these five dishes which cost Rs...
Meet Indian-origin Kashyap 'Kash' Patel, who could be Donald Trump's likely pick for CIA Chief
Donald Trump's second term worries Elon Musk's transgender daughter, says....
Meet IAS officer, who was a disabled bangle seller, cracked UPSC exam, is now serving in...
Meet IAS officer, who is nemesis of criminals, cracked UPSC exam with AIR 36, she is...
SC to pronounce verdict on Aligarh Muslim University's minority status today
Happy Chhath Puja 2024: Top 50 wishes, What'sApp messages, quotes to share with your loved ones
Viral video: Woman's sensual dance to 'namak' sets internet on fire, watch
SA vs IND, 1st T20I: Predicted playing XIs, live streaming details, weather and pitch report
SA vs IND, 1st T20I Dream11 prediction: Fantasy cricket tips for South Africa vs India match
Meet man who is set to lead Truecaller, not from IIT, IIM, earlier served Vice President of...
DNA TV Show: Why Pakistan worried about a Donald Trump presidency
Pakistan bow down as THIS country set to host India’s Champions Trophy 2025 matches
Amid heavy pollution in Delhi, these 12 Indian cities enjoy fresh, clean air
Bigg Boss 18: Vivian Dsena confides in Kashish Kapoor about his stepdaughters, talks about his...
After S Jaishankar's conference, India slams Canada for action against Australian news channel
Sidhu Moosewala's parents share NEW pic of his baby brother, netizens say 'so cute'
‘It definitely does a lot of good to my ego’: Aishwarya Rai gets candid in film promotion interview
Ignored for Australia Tests, India star slams sensational Ranji Trophy double ton
Interviewer asks Aishwarya Rai ‘how do you look so fab’, she says…
How Biden’s Lame-Duck Period Could Influence Policy Decisions After Choosing Not to Run in 2024