Bangladesh’s power development board (BPDB) has issued a new letter of credit (LC) worth USD 173 million to Adani Power Limited to ensure a continuous electricity supply.
This follows Adani Power’s decision to reduce electricity deliveries by half due to unpaid dues of USD843 million. This is the third LC issued by the BPDB to Adani Power Limited to address the payment issue. Bangladesh’s Krishi bank issued the LC, with ICICI Bank in India as its counterpart.
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