Adani gave a deadline to Bangladesh..!?

Sowmiya Sriram
Adani gave a deadline to Bangladesh..!?
Adani Power jharkhand Limited (APJL), a subsidiary of adani Power, issued a stern warning to Bangladesh. It has threatened to cut power supply if the dues of around $850 million (about Rs 7,200 crore) are not paid by november 7. adani Power has already cut electricity supply due to an unpaid balance of $846 million owed to the bangladesh government. According to the latest reports, Adani's power plant also significantly reduced its power generation measurement last thursday night, leaving the country with a power deficit of 1,600 MW. The power plant, which has a generating capacity of about 1,496 MW, currently produces only 700 MW as only one unit is operational.
Adani Power sent a letter to the bangladesh Power Development Board (PDB) a few weeks ago, asking it to clear the outstanding balance by october 30. The company had also said that it would stop the power supply as per the terms of the Power Purchase Agreement (PPA) if it fails to pay within the deadline. However, adani Power said the bangladesh Power Development Board (PDB) is yet to issue a line of credit letter for the outstanding amount of $170.03 million from bangladesh Krishi bank and has not paid the outstanding amount.
The bangladesh Power Development Board has been paying around $18 million weekly, but due to increased arrears, it is now forced to pay more than $22 million. Since the interim government led by Nobel laureate professor Muhammad Yunus has been established in bangladesh, foreign companies doing business with the country are facing many problems. gautam adani, chairman of the adani Group, has also spoken directly regarding the issue. However, the settlement of Rs 7,200 crore has not yet been reached.
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