Adani Group has set a deadline to the Power Development Board of Bangladesh (PDB) to pay $8.5 billion in outstanding electricity bills. If not, the Indian industry group has warned that late fees will be imposed. The Financial Express reported this information in a letter to PDB.
In the letter given to PDB, Adani Group has warned that the outstanding bills must be paid by June this year. If the bill is not paid within the stipulated time, a late fee will be charged as per the terms of the contract.
Adani had earlier set a deadline of November 2023 and also shut down a unit to put pressure on PDB.
Referring to the ongoing dispute between the two parties over the calculation of coal prices, a senior PDB official said that Adani calculates the cost of coal as per the terms of their contract. But PDB calculates on actual coal price.
Adani Group claims that they owe 845 million dollars. But according to PDB this amount will not be more than 70 crores. However, despite the ongoing dispute, regular payments are continuing, the official said.
Adani has built two power plants with a total production capacity of 1,600 MW at Godda in Jharkhand, India to supply electricity to Bangladesh.
According to the 2017 agreement, Bangladesh will buy electricity from here for 25 years.
