Final Up to date: 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 Home in New Delhi, Sept 6, 2022. (Picture Credit score: 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 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 price of Rs 377 crore. The whole price contains the expenditure of Rs 285 crore incurred on laying the portion on the Bangladesh aspect.
“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) stated in an announcement on Friday.
“That is the primary cross border vitality pipeline between India and Bangladesh, constructed at an estimated price of INR 377 crore, of which the Bangladesh portion of the pipeline constructed at a price of roughly Rs 285 crore, has been borne by the federal government of India beneath grant help,” it stated in an announcement.
The MEA stated that the pipeline has the capability to move a million metric tonne every year (MMTPA) of high-speed diesel. It is 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 vitality safety between the 2 nations,” the MEA stated.
This newest venture comes according to India’s Neighbourhood First Coverage which remained one of many basic 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 response to MEA, India turned the highest improvement cooperation accomplice for Bangladesh by way of funds disbursement over the past monetary yr. India has prolonged concessional credit amounting to nearly USD 10 billion to Bangladesh, together with by means of three of its largest bilateral Strains of Credit score.
There was a major enhance in bilateral commerce, with Bangladesh remaining India’s largest commerce accomplice in South Asia, and India turning into the most important export vacation spot of Bangladesh in Asia.
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