Bangladesh just handed over a massive chunk of cash to Indian power company Adani. The country paid out 437 million dollars during June to settle their electric bill. This giant payment wiped clean all the money they owed from earlier months. Officials confirmed that Bangladesh had been behind on payments for quite some time. The cash covered everything up to the end of March this year.
Adani Power sends electricity across the border from their plant located near Godda. Bangladesh usually sends around 90 to 100 million dollars each month for this power. This June payment was much bigger than their regular monthly bills. The money covered late fees and extra charges that had piled up over time. Both countries can move forward with their normal business relationship.
Bangladesh almost owed 900 million dollars back during May according to reports. The total bill from Adani reached about 2 billion dollars over recent years. Adani had already collected 1.2 billion dollars before this latest payment arrived. The power company also charged 136 million dollars for late payment penalties. Bangladesh managed to clear everything and avoid future penalty charges.
The country provided a special bank guarantee worth 180 million dollars for upcoming bills. This letter covers about two months of future electricity costs. Bangladesh also gave a government promise to pay all remaining money on time. The power company agreed to keep both electricity units running at full capacity. This deal provides 1,600 megawatts of electricity to help meet Bangladesh energy needs.
Adani Power sends electricity across the border from their plant located near Godda. Bangladesh usually sends around 90 to 100 million dollars each month for this power. This June payment was much bigger than their regular monthly bills. The money covered late fees and extra charges that had piled up over time. Both countries can move forward with their normal business relationship.
Bangladesh almost owed 900 million dollars back during May according to reports. The total bill from Adani reached about 2 billion dollars over recent years. Adani had already collected 1.2 billion dollars before this latest payment arrived. The power company also charged 136 million dollars for late payment penalties. Bangladesh managed to clear everything and avoid future penalty charges.
The country provided a special bank guarantee worth 180 million dollars for upcoming bills. This letter covers about two months of future electricity costs. Bangladesh also gave a government promise to pay all remaining money on time. The power company agreed to keep both electricity units running at full capacity. This deal provides 1,600 megawatts of electricity to help meet Bangladesh energy needs.
