Adani Group Extends Payment Deadline to June
- Update Time : 06:49:35 am, Monday, 20 January 2025
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India’s Adani Group has extended the deadline for Bangladesh to clear its outstanding payments until June. The company sent a letter to the Power Development Board (PDB) on Sunday, stating that as of January 6, the PDB owes Adani Tk 10,309 crore. Adani has proposed waiving late fees if payments are made by June. A prior meeting between Adani and the PDB took place on January 9.
The power plant, with a capacity of up to 1,500 MW per day, has faced payment disputes with the interim Bangladeshi government since August. In October, Adani threatened to cut off power supply due to non-payment and even shut down one production unit in November. Bangladesh later made partial payments to resume operations.
The Awami League government signed the deal with Adani in 2017 under special provisions, bypassing tenders. The agreement, made at the request of Indian Prime Minister Narendra Modi, has faced criticism for being overly favorable to Adani. The coal-fired power plant, located in Godda, Jharkhand, has a capacity of 1,600 MW, with Bangladesh committed to purchasing its electricity for 25 years. The plant began operations in 2023.
