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January 10, 2006
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Tuesday
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Zilhaj 9, 1426
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Indian offer to supply POL to BD
By Our Correspondent
DHAKA, Jan 9: Bangladesh will soon hold talks with the state-run Bharat Petroleum Corporation of India (BP) on import of fuel. The Indian High Commissioner to Bangladesh, Veena Sikri, on Monday told the Advisor on Energy and Mineral Resources, Mahmudur Rahman that BP was interested in supplying fuel to Bangladesh.
The Indian envoy was called by Mr Rahman to inform her about Jindal Steel, an Indian company, which defaulted in supplying pipes for an important gas transmission line project in time.
The BD advisor said that the government would consider importing fuel from BP if India provides Bangladesh Petroleum Corporation with a credit line from the Export Import Bank of India. He told the Indian envoy that the matter would be discussed in more detail after the Eid-ul-Azha vacation.
Mahmud told reporters after the meeting that BP imports fuels from Kuwait, Saudi Arabia and the United Arab Emirates (UAE), taking credit from the Islamic Development Bank.
“If the Indian Exim Bank arranges credit for us, we might consider importing fuel from BP,” he said.
Another state-run corporation, the Indian Oil Corporation, has been supplying 0.2 million tons of diesel to Bangladesh each year under a two-year deal signed in 2004.
The Indian envoy assured the adviser that she would persuade an Indian company, Jindal Steel, to supply pipes for the Savar-Dhanua gas transmission line project in time.
The BD advisor told her that the company had breached contractual obligations by missing several deadlines and has now set its latest deadline on June 25, 2006. He said that the company’s attitude would create a negative impression in the energy division and would strengthen the belief that Indian companies breach contractual obligations.
They also discussed the progress of talks between the government and Tata Group. Mr Rahman told Veena that the final round of negotiation would be ended by January 31, and the government may take a definite decision on the Indian conglomerate’s $3 billion investment proposal in February.
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