New Delhi: Today, Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina will jointly inaugurate the India-Bangladesh friendship diesel pipeline. The inauguration will be done via video conference. 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.
New Delhi: Today, Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina will jointly inaugurate the India-Bangladesh friendship diesel pipeline. 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. The inauguration will be done via video conference. This is the first cross-border energy pipeline between India and Bangladesh.
According to the Ministry of External Affairs (MEA), PM Modi and Bangladesh PM , Sheikh Hasina will inaugurate the India-Bangladesh friendship pipeline at 5 PM. 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.”
The statement read, “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 pipeline has the capacity to 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. 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 operation of the pipeline will put in place a sustainable, reliable, cost-effective and environment-friendly mode of transporting diesel from India to Bangladesh. It will further enhance cooperation in energy security between the two countries, media reported citing official sources. 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, media 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.
