Adani's letter sets deadline for electricity dues

The Indian Adani Group has set a new deadline for Bangladesh to pay its electricity dues.

The industrial group has sent a letter to the Power Development Board (PDB) on Sunday (January 19), urging to pay the dues by next June.

In the letter, the Adani Group said if the $845 million (Tk 8,450 crore) outstanding bill is not paid by next June, a surcharge will have to be paid.

Adani said it owes PDB $845 million. This arrear accumulated as electricity bills supplied to BPDB as of January 6. However, according to PDB, Adani owes about $700 million.

The letter also offers a waiver of late fees if the total arrears for the period up to December 2024 are paid by June 30.

Earlier, Adani had sent a letter to the PDB setting a deadline of November 7 last year for the payment of outstanding electricity bills. At that time, electricity exports from an 800 MW unit were also stopped.

Adani had warned that if the company failed to pay within the stipulated time, it would have to pay late fees as per the agreement.

Adani and PDB held a meeting on January 9 to resolve the outstanding electricity bill payment. Adani Group has sent the formal letter based on the discussions at that meeting. The discussion at the meeting was mentioned in Adani's letter signed on January 16. It said that Adani's Gadda Power Plant is suffering from a liquidity crisis due to non-payment of dues.