Adani Group aims to settle outstanding dues by June
The Indian conglomerate states that the amount represents unpaid bills for electricity supplied up until January 6.
On Sunday, India's Adani Group urged the Bangladesh Power Development Board (PDB) to settle outstanding bills totaling $845 million by June, warning that failure to do so would result in late payment fees.
In a letter to the PDB, the Indian conglomerate stated that the amount represents unpaid bills for electricity supplied up until January 6.
The letter further emphasized that if the dues remain unsettled by June, the PDB would incur late fees in line with the terms of their agreement.
However, the PDB has disputed the coal prices in the bill. While Adani is calculating the coal prices based on the formula specified in the agreement, the PDB is using the actual cost of coal.
The PDB estimates Adani’s outstanding dues at around $700 million. Despite this backlog, the PDB confirmed that current bills are being paid promptly.
Sources from the PDB indicated that representatives from both Adani Power and the PDB met on January 9 to discuss the unpaid dues.
Following the meeting, Adani Group issued a formal letter reiterating its demand for payment.
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