BANGLADESH ELECTRICITY SUPPLY
Adani Group, others' energy projects may be investigated in Bangladesh
Bangladesh interim government is reviewing power deals made by previous government. One deal involves India's Adani Group. A committee recommends hiring investigators to examine these agreements. The committee believes some agreements might need cancellation or renegotiation. This decision follows allegations of corruption in Bangladesh's energy sector.
The many disputes of billionaire Gautam Adani
Billionaire Gautam Adani and his company, Adani Group, were accused of bribery and fraud by US prosecutors. The group denied the accusations. This is not the first controversy for Adani. His company faced criticism and legal challenges in India, Australia, Kenya, Myanmar and Bangladesh. These disputes involved projects related to coal mining, port development, power supply and slum redevelopment.
Bangladesh may need Indian help to manage economy
Bangladesh's reliance on India extends beyond electricity to encompass various infrastructure projects financed by Indian credit lines worth $8 billion. This dependence is evident in sectors like transportation, irrigation, and energy, with Bangladesh importing 1,160 MW of power from India. Experts suggest this reliance, while fostering growth, also exposes Bangladesh to economic vulnerabilities.
Adani Power cuts Bangladesh supply by over 60% on payment dispute
Adani Power has decreased electricity supply to Bangladesh once again due to unpaid dues exceeding $800 million. Despite Bangladesh expediting payments and a payment deadline extension, Adani Power has gradually reduced supply to about 520 MW. Bangladesh claims to be making payments and seeking alternative solutions to prevent dependence on a single power producer.
Bangladesh promises over Rs 1,450 crore to Adani for continuous power supply
Bangladesh's power board has issued a new letter of credit worth $173 million to Adani Power for continued electricity supply. This follows Adani's decision to reduce power supply by half due to unpaid dues exceeding $843 million. This marks the third LC provided by the Bangladesh Power Development Board to Adani Power to resolve the payment dispute.
Bangladesh seeks increased electricity supply from Tripura amid power shortage
Bangladesh has requested at least 250 MW of electricity from Tripura to combat their power shortage, a significant increase from the current 50-80 MW supply. While discussions are ongoing, increasing the supply hinges on securing approvals from the Indian Central government and finalizing necessary agreements.
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Bangladesh fast tracks payment to Adani Power after supply cut
Bangladesh is expediting an $800 million payment to Adani Power by a November 7 deadline. Adani, facing coal import challenges, slashed electricity exports to Bangladesh by half, prompting the expedited payment. Bangladesh, grappling with import costs and political shifts, aims to avoid further power supply disruptions.
Bangladesh likely to keep power deal with Adani: Report
Bangladesh will likely keep a power purchase deal with India's Adani Power despite high costs and legal challenges. A new government panel is reviewing previous contracts. Adani supplies significant power to Dhaka, despite mounting unpaid dues. The interim government is also scrapping other projects, indicating further possible cancellations.
Low visibility, big business: 5 raw material supplying stocks with an upside potential of 16 to 45% in a year
As sector after sector benefits from the tailwinds of higher economic growth, many small- and medium-sized companies are making a comeback. Many of these are companies making industrial consumables. Their performance is based on real business ¨C and not only because of the bull run on the stock markets. Many of them are not names heard on the street every day, as they don't deal in consumer-facing goods. So a company making graphite electrodes or abrasives, or a supplier of electro-minerals may not have been talked about as performers in the current bull run. But the fact is that they have given decent returns.
Bangladesh struggling to muster dollars to pay Indian power debts, sources say
Bangladesh is struggling to clear over $1 billion in debts to Indian power companies due to a dollar shortage. The country, facing economic and political turmoil, urgently seeks $5 billion in financial aid. Major debts include $800 million to Adani Power, with other companies also awaiting payments.
Power dues from Bangladesh: PTC & SEIL seek to invoke bank guarantees
PTC India and SEIL Energy India have approached the Bangladesh Power Development Board to invoke bank guarantees due to unpaid dues for power supplied. While BPDB has started making payments to Adani Power, SEIL Energy India and PTC India are still awaiting payment for their dues, critical for continued power supply.
Political turmoil in Bangladesh unlikely to impact credit quality of Indian firms: CRISIL Ratings
CRISIL Ratings reports that recent political turmoil in Bangladesh is unlikely to impact the credit quality of Indian corporates in the near term. While some export-oriented sectors may face challenges, others could benefit. India's trade with Bangladesh remains relatively low, accounting for 2.5% of total exports and 0.3% of imports last financial year.
Revolt Motors will soon start exports of its electric bikes
Revolt Motors is set to begin exporting its electric motorcycles, starting with Sri Lanka. The company has received interest from various countries and plans to expand its portfolio. Revolt aims to open 15 dealerships in Sri Lanka within four months and is preparing for increased sales with government incentives under the PM E-DRIVE scheme.
Oil India facing no payment problem in diesel exports to Bangladesh: Chairman
Oil India has reported no payment issues for its diesel exports to Bangladesh and smooth transit of equipment for its refinery expansion. The company plans to increase refining capacity at Numaligarh by December 2025. Additionally, Oil India's biorefinery in Assam will start ethanol production soon.
Gautam Adani writes to Bangladesh chief advisor Muhammad Yunus, seeks early payment of $800 mn in power dues
Adani Group chairman Gautam Adani has sought the intervention of Muhammad Yunus, chief advisor to the Bangladesh government, for the early clearance of $800 million owed by the Bangladesh Power Development Board to Adani Power. The dues have accumulated over eight to nine months for electricity supplied from Adani's coal-fired power plant in Godda, Jharkhand.
Power play: Why Bangladesh can push India at its own peril
Bangladesh's political landscape has shifted as an interim government steps in following Prime Minister Sheikh Hasina's resignation. Amid rising anti-India sentiment led by the BNP and other Islamist groups, India's energy and supply dependencies with Bangladesh face scrutiny. Key agreements and potential disruptions in diesel and power supplies heighten bilateral tensions.
Turmoil in Bangladesh and its impact on India-Bangladesh trade ties
In 2023-24, India¡¯s exports to Bangladesh were higher than many of the world¡¯s leading economies like Japan, Germany and France. However, the ongoing socio-political turmoil has impacted economic activities in Bangladesh and is very likely to adversely affect its bilateral trade relations with India.
Five Indian power companies face over $1 billion payment outage risk in Bangladesh
Bangladesh owes over $1 billion to five Indian power companies, with Adani Power leading the list at $800 million for its Jharkhand-based plant. SEIL Energy India is owed about $150 million, while NTPC is due nearly $80 million. The payments are overdue amidst political turmoil in Bangladesh, which recently led to the Prime Minister fleeing to India.
Adani Power has $800 million in unpaid dues from Bangladesh
Adani Power: Bangladesh owes $800 million to Adani Power Ltd. for electricity from its coal-fired plant in Jharkhand. Unpaid dues could disrupt electricity supply. The interim government is negotiating with Adani to resolve this and seeking additional IMF loans to manage economic challenges. Adani's international expansion carries significant financial and geopolitical risks.
Little talked but not little business: 7 stocks of companies which supply raw material to many industries with an upside potential of up to 40%
As one after another more sectors get tailwinds of higher economic growth, there are many small and medium size companies making a comeback. A comeback on the front of real business and not only the stock market. A number of them are not names which are heard on the street every day, just because of the fact that they don't deal in consumer facing goods. So a company making graphite electrodes , abrasive or supplier of electromineral will not come to mind when it comes to performers in this bull run. Though it is a different thing that these companies have given decent returns in the current bull run.
Adani Power will continue to supply power to Bangladesh
Adani Power will keep supplying electricity to Bangladesh from its 1,600MW Jharkhand plant, even as new guidelines allow such plants to sell power within India. The amendment aims to streamline power export processes. Adani Power reiterated its commitment to fulfilling Bangladesh's electricity requirements despite recent political challenges.
Adani Power says it is committed to supplying electricity to Bangladesh
Adani Power has reaffirmed its commitment to supplying electricity to Bangladesh despite recent changes in India¡¯s power export rules. The amendment allows connectivity to the Indian grid without obligating India to buy electricity. Adani's plant in Jharkhand continues to honor its contract, aiming to hedge against political risks. This could benefit future export-centric power projects.
Adani plant allowed to sell Bangladesh-bound power in India after rules amended
The Indian government has amended power export rules, allowing Adani Power's 1,600 MW Godda plant in Jharkhand, which is contracted to export all its output to Bangladesh, to supply the domestic market. The change permits connection to the Indian grid if the plant's capacity is underutilized or if there are delays in payment from Bangladesh. This adjustment, seen as a move to safeguard India's energy security, could also benefit future projects with similar export contracts. The decision follows recent political unrest in Bangladesh that led to Prime Minister Sheikh Hasina's departure.
Operation opportunities: How India is gaining influence regardless of shifts in neighbourhood
Over the past decade, India has built deep linkages in four key areas - finance, supply chains, petroleum, and (power and road) infrastructure. These investments have now emerged as stabilising factors during a political crisis. Any political regime in the region requires India's assurance and support because of the intricate network of dependencies that have been built into the equation.
Bangladesh protests are not the first time student uprisings have helped bring about radical change
Long-standing student protests in Bangladesh against an unfair job quota system turned violent, forcing Prime Minister Sheikh Hasina to resign. Nearly 300 people died in the resulting chaos. Historical instances show similar youth-led uprisings impacting governments in Sri Lanka, Greece, the United States, South Africa, and Czechoslovakia.
Bangladesh protests are not the first time student uprisings have helped bring about radical change
Students or other young people have frequently played pivotal roles in popular uprisings that have brought down governments or forced them to change policies.
Adani continues power supply to Bangladesh
Adani Power Ltd has stated that it maintained uninterrupted power supply to the Bangladesh Power Development Board, even amid ongoing political unrest. The supply aligns with BPDB's schedule and their power purchase agreement. Adani Power Jharkhand delivers 1496 MW of power from its ultra-supercritical thermal power plant in Godda, Jharkhand.
India's exports to face issues in Bangladesh as crisis deepens: Exporters
According to exporters, they are already facing disruptions in exports to Bangladesh due to a shortage of foreign exchange in that country. India's exports of perishable goods are facing challenges at the border. Bangladesh Prime Minister Sheikh Hasina has resigned, and an interim government is taking over in the country.
Bangladesh shuts offices, imposes curfew to curb deadly job quota protests
Prime Minister Sheikh Hasina's government declared Sunday and Monday as "public holidays" due to the situation in the country, with only emergency services allowed to operate. Authorities had earlier closed universities and colleges from Wednesday.
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