Bangladesh to launch 3 Major Infrastructure Projects in September

21 Jul 2023 CW Team

During the meeting, both Prime Minister Hasina and the Indian envoy expressed their contentment with the current state of bilateral relations, as reported by Bangladesh's premier's press secretary, Ihsanul Karim. Sheikh Hasina also expressed her desire for India to raise its voice on behalf of the Global South during the upcoming G20 Summit in New Delhi.

As part of enhancing cooperation, the High Commissioner informed Prime Minister Hasina that two types of credit cards, one denominated in Rupees and the other in Taka, will be issued to facilitate payments for the citizens of both countries. This move is aimed at easing transactions, especially considering the significant number of Bangladeshis visiting India for various purposes.

Furthermore, Bangladesh is all set to launch three major infrastructure projects in September, which will be financed by India. These projects include a 660-megawatt superthermal power plant, the second unit of the Rampal power plant in southwestern Bangladesh, and two railway lines: the 65-kilometre-long Khulna-Mongla Port Railway Link and the Akhaura (Bangladesh) and Agartala (India) Railway Link.

The Maitree Super Thermal Power Plant-2 has been developed as a 50:50 joint venture project, and its first unit, also with a 660 MW capacity, was commissioned in December of the previous year.

Additionally, Bangladesh and India recently commenced a trade transaction in their local currencies, aiming to reduce dependence on the US dollar and strengthen regional currency and trade ties. This marked the first time that Bangladesh engaged in bilateral trade with a foreign country using a currency other than the US dollar. Going forward, the trade will initially be conducted in Rupees and will gradually transition to Bangladeshi currency, Taka.

To provide context, the latest official data from Dhaka shows that Bangladesh's exports to India amount to $2 billion, while its imports from India are valued at $13.69 billion.

Bangladesh is gearing up to initiate three significant infrastructure projects, including a power plant, with the support of India's financial assistance in September, as confirmed by a senior official. The Indian High Commissioner in Dhaka, Pranay Verma, met with Prime Minister Sheikh Hasina at her official residence, Ganobhaban, where they discussed various matters, such as the Taka-Rupee exchange system between the two countries, connectivity, and ongoing projects funded through Indian Line of Credits and grants.During the meeting, both Prime Minister Hasina and the Indian envoy expressed their contentment with the current state of bilateral relations, as reported by Bangladesh's premier's press secretary, Ihsanul Karim. Sheikh Hasina also expressed her desire for India to raise its voice on behalf of the Global South during the upcoming G20 Summit in New Delhi.As part of enhancing cooperation, the High Commissioner informed Prime Minister Hasina that two types of credit cards, one denominated in Rupees and the other in Taka, will be issued to facilitate payments for the citizens of both countries. This move is aimed at easing transactions, especially considering the significant number of Bangladeshis visiting India for various purposes.Furthermore, Bangladesh is all set to launch three major infrastructure projects in September, which will be financed by India. These projects include a 660-megawatt superthermal power plant, the second unit of the Rampal power plant in southwestern Bangladesh, and two railway lines: the 65-kilometre-long Khulna-Mongla Port Railway Link and the Akhaura (Bangladesh) and Agartala (India) Railway Link.The Maitree Super Thermal Power Plant-2 has been developed as a 50:50 joint venture project, and its first unit, also with a 660 MW capacity, was commissioned in December of the previous year.Additionally, Bangladesh and India recently commenced a trade transaction in their local currencies, aiming to reduce dependence on the US dollar and strengthen regional currency and trade ties. This marked the first time that Bangladesh engaged in bilateral trade with a foreign country using a currency other than the US dollar. Going forward, the trade will initially be conducted in Rupees and will gradually transition to Bangladeshi currency, Taka.To provide context, the latest official data from Dhaka shows that Bangladesh's exports to India amount to $2 billion, while its imports from India are valued at $13.69 billion.