10 september 2024 : Gautam Adani, Chairman of the Adani Group, has reportedly appealed to Muhammad Yunus, Chief Advisor to the Bangladesh government, to expedite the payment of $800 million owed by the Bangladesh Power Development Board to Adani Power for electricity supplies.
In his letter, Adani expressed that his company is facing pressure from lenders while continuing to fulfill its commitment to Bangladesh. He requested Yunus’s intervention for the early settlement of the outstanding amount and urged for regular payments of routine bills along with significant monthly payments to clear the dues.
The debt, amounting to $800 million, has accumulated over the past eight to nine months. Adani Power has been supplying electricity from its 1.6 GW coal-fired plant in Jharkhand, India, through a dedicated transmission line since last June.
Adani emphasized that his company has invested $2 billion in developing the power plant and related infrastructure. He reaffirmed Adani Power’s commitment to supporting Bangladesh’s energy needs and infrastructure development. Additionally, Adani highlighted the company’s contributions to Bangladesh’s food supply through brands like Rupchanda, Meizan, and Fortune, and expressed appreciation for the support from local authorities and communities.
