PM Modi, Bangladeshi Counterpart Hasina to Inaugurate First Joint Energy Pipeline Today

Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina will inaugurate the primary India-Bangladesh power pipeline at the moment by way of video convention.

This pipeline would be the first cross-border pipeline between the 2 nations that has been constructed at an estimated value of Rs 377 crore. The overall value consists of the expenditure of Rs 285 crore incurred on laying the portion on the Bangladesh facet.

“Prime Minister Narendra Modi and Prime Minister of Bangladesh, Sheikh Hasina will inaugurate the India-Bangladesh friendship pipeline on March 18 at 1700 hours (IST) by way of video-conference,” the Ministry of Exterior Affairs (MEA) mentioned in an announcement on Friday.

“That is the primary cross border power pipeline between India and Bangladesh, constructed at an estimated value of INR 377 crore, of which the Bangladesh portion of the pipeline constructed at a value of roughly Rs 285 crore, has been borne by the federal government of India underneath grant help,” it mentioned in an announcement.

The MEA mentioned that the pipeline has the capability to move a million metric tonne every year (MMTPA) of high-speed diesel. It’s going to provide high-speed diesel initially to seven districts in northern Bangladesh.

“The operation of India-Bangladesh Friendship Pipeline will put in place a sustainable, dependable, cost-effective and environment-friendly mode of transporting HSD from India to Bangladesh and can additional improve cooperation in power safety between the 2 nations,” the MEA mentioned.

This newest undertaking comes in step with India’s Neighbourhood First Coverage which remained one of many elementary pillars of India’s diplomacy throughout this era.

In September, PM Sheikh Hasina paid a State Go to to India and held bilateral discussions with Prime Minister Modi. Each the leaders expressed satisfaction on the wonderful state of bilateral relations, based mostly on deep historic and fraternal ties and shared values of democracy and pluralism.

In keeping with MEA, India grew to become the highest growth cooperation companion for Bangladesh when it comes to funds disbursement over the past monetary 12 months. India has prolonged concessional credit amounting to virtually USD 10 billion to Bangladesh, together with by means of three of its largest bilateral Traces of Credit score.

There was a big enhance in bilateral commerce, with Bangladesh remaining India’s largest commerce companion in South Asia, and India changing into the biggest export vacation spot of Bangladesh in Asia.

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