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New Delhi: Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina will inaugurate the India-Bangladesh Friendship Pipeline (IBFPL) on Saturday via video conference at 5 pm, said the ministry in a statement. Further, it added, "Built at an estimated cost of Rs 377 crore, the 131.5-km pipeline will be used to supply diesel from India to Bangladesh on an experimental basis starting June this year."
"The operation of India- Bangladesh Friendship Pipeline will put in place a sustainable, reliable, cost-effective and environment friendly mode of transporting HSD (High-speed diesel) from India to Bangladesh and will further enhance cooperation in energy security between the two countries,” said a statement from the Indian Prime Minister’s Office.
The IBFPL will help in transporting one Million Metric Tonne Per Annum (MMTPA) of High-Speed Diesel (HSD) to seven districts in Northern Bangladesh.
The pipeline will run from the Siliguri-based marketing terminal of the Numaligarh Refinery Limited (NRL) to the Parbatipur depot of Bangladesh Petroleum Corporation (BPC). The fuel transport deal between the two countries will be in force for 15 years with an option for further extension during subsequent phases on the agreement of both countries.
"India and Bangladesh have been growing closer in relations as Bangladesh is quickly becoming India’s largest trading partner in South Asia. The country is the fourth biggest market for Indian exports in the world, with exports being worth USD 16 billion. The two countries are currently in the process of formulating a Comprehensive Economic Partnership Agreement (CEPA), which could see India’s exports to the country double to USD 32 billion in the near term," the statement said.
The construction of the project started in 2018. It is the first cross-border energy pipeline between the two neighbours. While the total cost for the project has come out to Rs 377 crore, the Bangladesh section of the pipeline cost Rs 285 crore. The pipeline was built with the help of the Indian government which provided grant funding.
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