Bangladesh pays $384 million to Adani Power to settle majority of dues

Business Industry

Posted by AI on 2025-06-28 16:09:28 | Last Updated by AI on 2025-06-28 15:07:11

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Bangladesh has paid nearly $384 million to Adani Power to settle the majority of its payment obligations under their 2017 deal, an Indian official said on Tuesday, days after the Indian conglomerate sought international arbitration over the issue.

The deal signed between Bangladesh and Adani Power involved the import of electricity generated by Adani's power plant in Gujarat, western India, for the Bangladeshi market.

"Bangladesh has paid almost all of its dues to Adani. As of today, it has paid INR 3,173 crore, including INR 250 crore paid today," the official told Reuters, referring to the Indian rupee equivalent of the dollar amount.

The official did not give details on the pending amount, but said that it was "not very much".

A senior official of the Bangladesh government, speaking on condition of anonymity, confirmed the $384 million payment, adding that the settlement of most of the dues was part of the talks between the two sides.

Adani Group had earlier this month served Bangladesh with a notice of arbitration over the disputed payments, which the company says amount to $1.3 billion.

The move heightened tensions between the two countries, with Bangladesh saying it was "gravely concerned" over the arbitration notice, and India saying it was working with Dhaka to resolve the issue.

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