by admin | May 25, 2021 | Muslim World
New Delhi : (IANS) India and Bangladesh have signed a memorandum of understanding to construct a pipeline for supply of high speed diesel, it was announced on Thursday.
“Numaligarh Refinery Limited (NRL) and Bangladesh Petroleum Corporation (BPC) are working on details for the envisaged project of supply of high speed diesel (HSD) from Numaligarh (in Assam) to Parbatipur in Bangladesh for a period of 20 years under a JV project between NRL and BPC,” external affairs ministry spokesman Vikas Swarup said at a media briefing here.
“The product will be transported through a pipeline of approximately 135 km of which 130 km will be in Bangladesh and five km in India,” he said.
The pipeline will run from Siliguri in West Bengal to Parbatipur in Bangladesh.
Swarup said, as a goodwill gesture, an initial consignment of 2,200 tonnes of diesel would be transported from Siliguri to Parbatipur by 50 wagons of the Indian Railways.
“This train will be flagged off from Siliguri on March 17 by Minister of State for Petroleum and Natural Gas, Dharmendra Pradhan,” he said.
The decision to construct the pipeline was taken during Prime Minister Narendra Modi’s visit to Dhaka in June 2015.
by admin | May 25, 2021 | Business, Large Enterprise
Dhaka : (IANS) Dhaka and New Delhi will sign the final agreement on a $2 billion credit from India on Wednesday.
Bangladesh’s Economic Relations Division (ERD) senior secretary Mohammad Mejbahuddin and the Indian Exim Bank chairman and managing director will sign the agreement on behalf of their countries, bdnews24.com quoted ERD additional secretary Asif-uz-Zaman as saying on Tuesday.
Senior officials of the Bangladesh government and Indian diplomats, including the high commissioner, will be present there, according to Asif-uz-Zaman.
A Memorandum of Understanding (MoU) was signed on the fresh soft loan during Prime Minister Narendra Modi’s visit to Dhaka in June 2015.
A report on the final agreement has been sent to the prime minister. All the terms and conditions tagged with the fresh credit will be like those for $1 billion India lent Bangladesh in 2010, the report stated.
As many as 15 development projects were undertaken with the previous Line of Credit (LOC) and seven of them have already been completed.
The $2 billion credit carries one percent interest rate and 0.5 percent commitment fee.
The repayment period will be 20 years with a grace period of five years, according to the report.
If Bangladesh fails to utilise the credit within the stipulated time, it will have to pay an additional two percent penalty interest.
