Prime Minister Narendra Modi and Bangladesh premier Sheikh Hasina on Saturday inaugurated a Rs 377-crore pipeline to transport diesel from India to northern Bangladesh, slicing prices and decreasing carbon footprint.
The pipeline will begin a brand new chapter in India-Bangladesh relations, Modi stated on the inauguration.
Currently, diesel is equipped to Bangladesh by a 512-km rail route. The 131.5-km pipeline will provide up to 1 million tonnes each year of diesel from Numaligarh in Assam to Bangladesh.
This wouldn’t simply assist save on transportation prices but in addition scale back the carbon footprint of transferring the gasoline, Modi stated.
“This pipeline is especially important in the context of many developing nations struggling for fertilizer and energy security,” he stated.
The development of the pipeline venture began in 2018. It is the primary cross-border vitality pipeline between the 2 neighbors. Of the entire value of Rs 377 crore of the venture, Rs 285 crore of the Bangladesh part of the pipeline has been borne by the Government of India underneath grant help.
The basis stone of this pipeline was laid by each Prime Ministers in September 2018. Numaligarh Refinery Limited has been supplying petroleum merchandise to Bangladesh since 2015.
The Prime Minister thanked Hasina for her fixed steering on the venture and expressed his need to proceed working along with her for the advantage of the folks of the 2 nations.
He stated the work on the pipeline continued regardless of the pandemic and would assist scale back the price of transportation. Also, the carbon footprint of this provide will likely be decrease than the choice mode.
“Reliable and sustainable diesel provide will likely be useful for the agriculture sector. Industries may even profit from it,” he said. “The pipeline will assist sooner growth of Bangladesh and will likely be a wonderful instance of accelerating connectivity between the 2 nations.” It is important that all pillars of connectivity, be it transport, energy, electricity grid or digital, should be strengthened, he said. Increased connectivity will aid people-to-people contact.
Modi said during the Covid pandemic, rail connectivity helped India supply oxygen and other essentials to Bangladesh.
In the energy sector, cooperation between two nations is highly successful. “Today India is supplying greater than 1,100 MW of electrical energy to Bangladesh,” he said.
Also, the first unit of the 2×660 MW Maitree thermal power project in Bagerhat district of Khulna division of Bangladesh has started and the second unit would also start soon, he said.
The project has been developed under India’s concessional financing scheme. It is being built by Bharat Heavy Electricals Ltd (BHEL) for Bangladesh-India Friendship Power Company Pvt Ltd. The first 660 MW unit started operations in October last year and the second similar capacity unit would go on stream soon.
“Our petroleum commerce has crossed USD 1 billion,” he said referring to energy trade between the two nations.
The hydrocarbon cooperation between the two nations is across the entire value chain – from upstream oil and gas exploration to midstream transportation and downstream. “This pipeline will additional strengthen this cooperation,” he stated.
Bangladesh is India’s top-most development partner and its largest trade partner in the region. The operationalization of the Friendship Pipeline will enhance ongoing energy cooperation between the two countries and will further growth in Bangladesh, particularly in the agriculture sector.
The India-Bangladesh Friendship Pipeline (IBFPL) will transport 1 million tonnes per annum (MMTPA) of diesel to seven districts in Northern Bangladesh.
The pipeline will run from the Siliguri-based marketing terminal of the Numaligarh Refinery Limited (NRL) to the Parbatipur depot of Bangladesh Petroleum Corporation (BPC). The fuel transport deal between the two countries will be in force for 15 years with an option for further extension during subsequent phases on the agreement of both countries.
India and Bangladesh have been growing closer in relations as Bangladesh is quickly becoming India’s largest trading partner in South Asia.
The country is the fourth largest market for Indian exports in the world, with exports being worth USD 16 billion. The two countries are currently in the process of formulating a Comprehensive Economic Partnership Agreement (CEPA), which could see India’s exports to the country double to USD 32 billion in the near term.
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(This story has not been edited by News18 employees and is printed from a syndicated information company feed)