BD-India companies ink deals worth $9 billion

BD-India companies ink deals worth $9 billion


Ittefaq Report
Leading companies from Bangladesh and India on Monday signed 13 MoUs and agreements for electricity, oil and gas projects, including the Rampal thermal power plant.
The projects are worth over $9 billion, which aims to boost bilateral economic relations with the neighbour.
The deals were signed in the presence of Bangladesh Prime Minister Sheikh Hasina at a meeting of India-Bangladesh Business Forum in New Delhi.
A facility agreement between Bangladesh-India Friendship Power Company (BIFPCL) and Exim Bank of India for debt financing for construction of 1,320MW Maitree Power Project in Rampal of Bangladesh at a cost of $1.6 billion is one of the prime deals signed in during the meeting.
The MoUs include an implementation and power purchase agreement between Reliance Power and the Ministry of Power, Energy and Mineral Resources for the first phase (718MW) of the 3,000MW power project at Meghnaghat, entailing $1 billion (out of a total proposed investment of $3 billion).
A high-tier Bangladeshi business delegation accompanying Prime Minister Sheikh Hasina on her four-day visit to India signed the deals.
The Bangladesh delegation comprised of businessmen representing sectors such as automobiles, cement, insurance & banking, ready-made garments, shipping, IT/ITeS, food and beverages, jute, power, renewable energy, real estate, electronic and print media, packaging, poultry, education, health and pharma, chemicals and telecommunication.

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