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“Adani a good deal for Bangladesh” Report

Dhaka [Bangladesh], February 23 (ANI): Although US short seller Hindenburg Research on January 24 published the findings of a two-year investigation alleging that the Adani Group had engaged in market manipulation and accounting malpractices, it is, itself, into short selling of shares, which is considered unethical in many countries, the Dhaka Tribune reported, adding that its position as a short seller may influence the positions it takes.

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“Adani a good deal for Bangladesh” Report

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  1. ADANI A GOOD DEAL FOR BANGLADESH: REPORT www.adanibangladesh.com

  2. Introduction Dhaka [Bangladesh], February 23 (ANI): Although US short seller Hindenburg Research on January 24 published the findings of a two-year investigation alleging that the Adani Group had engaged in market manipulation and accounting malpractices, it is, itself, into short selling of shares, which is considered unethical in many countries, the Dhaka Tribune reported, adding that its position as a short seller may influence the positions it takes. As per the agreement with the Bangladesh government, Adani set up a power plant in the Godda district of Jharkhand and once the plant starts to produce power, it will supply electricity to Bangladesh for the next 25 years, the Dhaka Tribune reported, adding that Bangladesh signed the deal with Adani Power back in 2017. Further, according to the report in the Bangladesh daily, the Adani Group as a whole is being talked about following the Hindenburg report, and therefore, taking advantage of it, the anti-government elements in Bangladesh started talking against the deal the government signed with Adani Power.

  3. All the critics can muster, is to provide vague anecdotes and sometimes absolutely false information to criticize the power deal with Adani, the report stated further. Transparency International Bangladesh (TIB) mentions in one of its statements, “According to national and international media reports, the electricity generated from the Adani power plant located in Godda, Jharkhand, will cost almost three times more than the electricity produced in the country.” To understand the whole deal, it is important to know about the cost of power production by using different conventional energy sources. The cost of production of electricity by different fuels within Bangladesh at current (international) market prices is given below:

  4. The cost of production of electricity by different fuels within Bangladesh at current (international) market prices is given below: (1) Cost of power generation with diesel is Tk (Taka) 30 per unit (2) Cost of power generation with imported gas (imported LNG) is Tk 20-22 per unit (3) Cost of power generation with furnace oil is Tk 18-20 per unit (4) Cost of power generation with imported coal is around Tk 14 per unit.

  5. As per the report in the Dhaka Tribune, in comparison to the above, through the Adani Power Project, Bangladesh will get power at Tk 15-16 per unit. The age of this power plant of the Adani Group is estimated to be 25 years, the report stated further, adding that until its expiry, the power plant would essentially be owned by the government of Bangladesh. The government of Bangladesh will produce or not produce electricity (depending on the variation of seasonal demands) from the Adani power plant according to the needs of the people of this country. Attachments Original Link :- https://www.dhakatribune.com/foreign-affairs/2023/03/03/state-minister-no-issues-with-45-billion-adani-power-project

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