Bangladesh: Analyzing Hasina era Adani Power Deal

[BananaRepublic]

Dude, their current produce will have a market (India).
The current thread is about the existing dues.

Bro! Bangladesh has already said it will pay.

Why pick a fight when other side doesn’t want a fight.

You just look like a bully!

 

[drkrn86]

Bro! Bangladesh has already said it will pay.

Why pick a fight when other side doesn’t want a fight.

You just look like a bully!

May be trust factor.
Who is the guarantor?

 

[BananaRepublic]

Reasonable

Bangladesh’s juvenile delinquents have got us into temporary bother.

BNP waiting in the wings to shake hands.

Stop the saas-bahu drama and back off!!

 

[UKBengali]

May be trust factor.
Who is the guarantor?

BD paid 100 million dollars just last month, which is 60 million dollars for cost of electricity for the month and 40 million for accrued debt.

Work out why Adani has cut power by half and made the extremely unreasonable demand to pay all debt within a week.

 

[BananaRepublic]

May be trust factor.
Who is the guarantor?

Apparently, BNP and BJP are now bhai bhai.

Get it from Tareq if you are really paranoid lol

 

[drkrn86]

Work out why Adani has cut power by half and made the extremely unreasonable demand to pay all debt within a week.

Depends on when did they start asking

 

[BananaRepublic]

BD paid 100 million dollars just last month, which is 60 million dollars for cost of electricity for the month and 40 million for accrued debt.

Work out why Adani has cut power by half and made the extremely unreasonable demand to pay all debt within a week.

They are behaving like the loan sharks we cannot name lol

 

[Vikramaditya1]

Please copy/paste the whole contract here as you seem to know exactly what's in it.

How did you arrive at that conclusion? Is common sense that uncommon? Any idiot with half wit would know how to draw up a contract with foreign governments and especially one with poor sovereign rating like BD. Adani is no small fish, they are an MNC so the clauses will be air tight heck I'm not even sure if they have NDA with your government.

 

[BananaRepublic]

How did you arrive at that conclusion? Is common sense that uncommon? Any idiot with half wit would know how to draw up a contract with foreign governments and especially one with poor sovereign rating like BD. Adani is no small fish, they are an MNC so the clauses will be air tight heck I'm not even sure if they have NDA with your government.

I don’t think you can have NDA against a non military contract.

Remember reading about this when some African Chinese contracts were being scrutinised.

 

[c14-Isotope]

Not demanded full payment from Bangladesh in 7 days: Adani Group

It said it has been cooperating fully and collaborating with the Bangladesh Power Development Board to resolve any issue

www.tbsnews.net

Not demanded full payment from Bangladesh in 7 days: Adani Group

In a clarification regarding its deadline on payment of outstanding bills by Bangladesh, Adani Group has said it has not demanded full payment in 7 days.

Rather it has said that it has been cooperating fully and collaborating with the Bangladesh Power Development Board (BPDB) to resolve any issue, the group said in a press release issued by its PR firm on Sunday following an Indian newspaper report on the deadline to Bangladesh over clearing dues.

"Adani has not demanded full payment $800-$850 million in 7-day time. Cooperating fully and collaborating with BPDB to resolve any issue," it said.

Earlier, the Indian newspapers Times of India reported that Adani Power of India has said it will suspend electricity supply to Bangladesh if the government does not resolve its payment issues by 7 November.

Following a reduction in power supply due to outstanding dues, Adani Power has set the deadline for the Bangladesh government to clarify the situation regarding the dues, which total nearly $850 million.

Earlier, Adani Power had set an 31 October deadline for the Bangladesh Power Development Board (BPDB) to settle the outstanding amount and provide a letter of credit (LC) of $170 million to ensure secure payment.

Although the BPDB attempted to issue an LC for the overdue amount through Krishi Bank, the effort did not align with the terms of the power purchase agreement, as reported by a TOI source. A shortage of dollars was mentioned as one of the reasons.

Adani Power Jharkhand reduced its supply from 31 October, worsening the existing power shortages in Bangladesh

As per the latest update on the Power Grid Bangladesh (PGB) website, on 1 November, Adani's plant in Godda (Jharkhand) supplied 724 megawatts against an installed capacity of 1,496 MW.

Preferring anonymity, a top official of BPDB told UNB that Adani Power requested Bangladesh to pay dues through a letter few days back.

 

[hussain0216]

Yes, they should have lived without power like in the dark ages.

They should have come up with a plan to resolve their energy issue

I believe a power station is opening soon in Bangladesh,

But you shouldn't trust a enemy full of hindutva extremists with ill intentions towards you

 

[UKBengali]

Depends on when did they start asking

Modi-Adani wants out of the contract.

India already allowing Adani to sell the power from this plant to Indian consumers.

You can speculate on the reasons but this contract only came about due to Hasina and she is now gone. We still have no public disclosure of the contract and maybe Modi-Adani wants it to be gone and buried.

 

[uksyl]

Not demanded full payment from Bangladesh in 7 days: Adani Group

It said it has been cooperating fully and collaborating with the Bangladesh Power Development Board to resolve any issue

www.tbsnews.net

Not demanded full payment from Bangladesh in 7 days: Adani Group

In a clarification regarding its deadline on payment of outstanding bills by Bangladesh, Adani Group has said it has not demanded full payment in 7 days.

Rather it has said that it has been cooperating fully and collaborating with the Bangladesh Power Development Board (BPDB) to resolve any issue, the group said in a press release issued by its PR firm on Sunday following an Indian newspaper report on the deadline to Bangladesh over clearing dues.

"Adani has not demanded full payment $800-$850 million in 7-day time. Cooperating fully and collaborating with BPDB to resolve any issue," it said.

Earlier, the Indian newspapers Times of India reported that Adani Power of India has said it will suspend electricity supply to Bangladesh if the government does not resolve its payment issues by 7 November.

Following a reduction in power supply due to outstanding dues, Adani Power has set the deadline for the Bangladesh government to clarify the situation regarding the dues, which total nearly $850 million.

Earlier, Adani Power had set an 31 October deadline for the Bangladesh Power Development Board (BPDB) to settle the outstanding amount and provide a letter of credit (LC) of $170 million to ensure secure payment.

Although the BPDB attempted to issue an LC for the overdue amount through Krishi Bank, the effort did not align with the terms of the power purchase agreement, as reported by a TOI source. A shortage of dollars was mentioned as one of the reasons.

Adani Power Jharkhand reduced its supply from 31 October, worsening the existing power shortages in Bangladesh

As per the latest update on the Power Grid Bangladesh (PGB) website, on 1 November, Adani's plant in Godda (Jharkhand) supplied 724 megawatts against an installed capacity of 1,496 MW.

Preferring anonymity, a top official of BPDB told UNB that Adani Power requested Bangladesh to pay dues through a letter few days back.

As long as there is some sort of mutually respectful deal whereby the GOB (Dhaka authorities i.e. Government of Bangladesh) honour the money which they owe Adani and Adani tries to be somewhat accommodating in terms of a realistic framework of payment then hopefully some of these differences can be ironed out.

 

[Khansaheeb]

The Indian conglomerate Adani Group has begun to curb electricity supplies to Bangladesh and threatened to completely shut down power exports as the new government in Dhaka struggles with a backlog of overdue payments.

The infrastructure-focused company owned by billionaire Gautam Adani on Thursday started slashing cross-border electricity flows by as much as half from its 1,600-megawatt capacity Godda coal-fired plant in eastern India, according to data published by Bangladesh’s power grid.

The group has set a November 7 deadline for a full cut-off unless Bangladesh can clarify how it will settle amounts owed to the company, according to a person familiar with the matter.

Adani Group has previously warned that the overdue payments have become “unsustainable”. Its executives told analysts last month that the country owed about $800mn at the end of September.

Muhammad Fouzul Kabir Khan, the top energy adviser to Bangladesh’s interim government led by Nobel Peace Prize laureate Muhammad Yunus, told the Financial Times: “We are both surprised and disappointed at the decision.”

Khan said Bangladesh contested the amounts owed to Adani, saying the government had paid the company about $100mn in October, “double of what we’ve been paying in the earlier months”, and had opened a letter of credit for $170mn. He said Bangladesh now owed about $700mn. The amount, however, could rise as Adani continues to supply the country.

The dispute with the influential Indian tycoon, Asia’s second-wealthiest individual, underscores the vulnerabilities of Bangladesh’s economy after the dramatic ousting of authoritarian prime minister Sheikh Hasina by student protesters in August. Hasina fled to India and her current whereabouts are unknown.

The turmoil disrupted the critical garments sector in south Asia’s second-largest economy, which was already faltering thanks to its reliance on costly fuel and commodity imports.

Yunus’s government has sought an additional $3bn from the IMF following a $4.5bn bailout in 2022. Financing talks are ongoing after officials from the lender visited Dhaka in September and noted economic activity had “slowed markedly”.

Despite the cutbacks by Adani, Khan said Bangladesh was “managing” and had fired up more expensive power generation plants using liquid fuels such as diesel and furnace oil.

“We are forced to run them, which is bringing up the cost of electricity generation . . . we are trying to bring in additional coal-based power,” Khan said. “We’ll be able to manage, but this is not what we expect, because [Adani] are contractually bound to fulfil their commitment, so we’ll look at what contractual options we have.”

Cemented during a 2015 visit by Indian Prime Minister Narendra Modi to Dhaka, the agreement with Adani to supply electricity from its Indian coal power plant in Godda has been criticised by activists, who say the high cost of importing power does not make sense for Bangladesh.

Yunus’s interim government has characterised deals negotiated during Hasina’s 15-year rule as opaque and expensive, heightening Bangladesh’s financial distress.

It has set up an expert committee to re-examine energy agreements signed by Hasina’s administration, and Khan said he expected them to report back in about two weeks.

“They are looking at these deals, and this Adani deal is one of them,” Khan said.

Adani Group did not immediately respond to a request for comment but has previously said the cost of its electricity to Bangladesh was “very competitive” compared with that of other imported coal-fired power plants.

In a filing last month, the conglomerate’s listed power business said it had been receiving payments from the Bangladesh Power Development Board “on a regular basis” and was “confident of recovering the overdue amount”.

Seems like the Bangali -Indian marriage is over.

 

[BananaRepublic]

Seems like the Bangali -Indian marriage is over.

Says the step mother-in-law lol