Last Updated: March 18, 2023, 06:09 IST
Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina pose throughout a photograph alternative forward of their assembly at Hyderabad House in New Delhi, Sept 6, 2022. (Photo Credit: Reuters)
This pipeline would be the first cross-border pipeline between the 2 nations that has been constructed at an estimated price of Rs 377 crore.
Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina will inaugurate the primary India-Bangladesh vitality pipeline in the present day through video convention.
This pipeline would be the first cross-border pipeline between the 2 nations that has been constructed at an estimated price of Rs 377 crore. The complete price contains 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) via video-conference,” the Ministry of External Affairs (MEA) mentioned in an announcement on Friday.
“This is the first cross border energy pipeline between India and Bangladesh, built at an estimated cost of INR 377 crore, of which the Bangladesh portion of the pipeline built at a cost of approximately Rs 285 crore, has been borne by the government of India under grant assistance,” it mentioned in an announcement.
The MEA mentioned that the pipeline has the capability to transport a million metric tonne each year (MMTPA) of high-speed diesel. It will provide high-speed diesel initially to seven districts in northern Bangladesh.
“The operation of India-Bangladesh Friendship Pipeline will put in place a sustainable, reliable, cost-effective and environment-friendly mode of transporting HSD from India to Bangladesh and will further enhance cooperation in energy security between the two countries,” the MEA mentioned.
This newest venture comes according to India’s Neighbourhood First Policy which remained one of many basic pillars of India’s diplomacy throughout this era.
In September, PM Sheikh Hasina paid a State Visit to India and held bilateral discussions with Prime Minister Modi. Both the leaders expressed satisfaction on the wonderful state of bilateral relations, primarily based on deep historic and fraternal ties and shared values of democracy and pluralism.
According to MEA, India turned the highest growth cooperation associate 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 way of three of its largest bilateral Lines of Credit.
There has been a major enhance in bilateral commerce, with Bangladesh remaining India’s largest commerce associate in South Asia, and India turning into the biggest export vacation spot of Bangladesh in Asia.
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