Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina will inaugurate the first India-Bangladesh energy pipeline on Saturday via video-conferencing. It has been built at an estimated cost of ₹377 crore, of which, ₹285 crore was incurred on laying the portion on the Bangladesh side.
In an official statement, the Ministry of External Affairs said, “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.”
“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 ₹285 crore, has been borne by the government of India under grant assistance,” the statement read.
The pipeline can transport one million metric tonnes per annum (MMTPA) of high-speed diesel. It will supply high-speed diesel initially to seven districts in northern Bangladesh, as per PTI reports.
According to MEA, 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.
India Bangladesh ties
India-Bangladesh ties over the last five decades have made significant achievements in building political capital, boosting the trade and connectivity sector, along with partnerships in key areas like training and capacity building.
The two sides have attained tangible results in several areas including settling land and maritime boundary demarcation, security, connectivity, development cooperation, cultural exchange, power and energy, trade and commerce, blue economy, defence.
Bangladesh is now India’s biggest trade partner in South Asia. Bilateral trade has grown from USD 9 billion to USD 18 billion in the last five years. Bangladesh has become the 4th largest export destination for India with a growth of over 66 per cent from USD 9.69 billion in FY 2020-21 to USD 16.15 billion in FY 2021-22, ANI reported.
Another major factor is the expanding connectivity between the two nations. India’s well-connected rail system was used to supply essential commodities to Bangladesh when trade via the land route was disrupted during Covid.
(With inputs from agencies)
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