PM Modi And PM Hasina Will Inaugurate The Bangladesh India Cross Border Oil Pipeline On March 18
The foreign minister of Bangladesh said that PM Sheikh Hasina and PM Narendra India would be going to inaugurate the oil pipeline between Bangladesh and India on March 18. This oil pipeline is used to transport diesel from India to Bangladesh.
The foreign minister spoke at the ministry of foreign affairs press conference and said that two premiers would be going to inaugurate the cross-border pipeline.
Inauguration of an oil pipeline by two premiers
According to sources, it is come to know that PM Hasina and PM Modi will inaugurate the first India Bangladesh cross border pipeline on March 18. They inaugurate this project via video conference.
The foreign minister of Bangladesh said they imported the diesel from India through a pipeline after this inauguration. The cross-border pipeline facilitates the fast transportation of diesel from India to Bangladesh.
Indian Bangladesh pipeline friendship
Delhi uses the 130 kms India Bangladesh pipeline friendship, which is built from the 3.46 billion and drawn from the India line of credit. The investments behind the pipeline establishment are because of loan assistance from India.
This pipeline is used further to export diesel to Dhaka, said Bangladesh petroleum corporation officials. The good news here is that India sends diesel for transportation. The Bangladesh-Indian pipeline is completed, said the foreign minister.
How much does the construction of the pipeline cost
As the first India Bangladesh cross border pipeline is run for long distances for diesel transportation, there is required to have a strong budget for both countries. Let us look at how much costs are associated with the construction of the India-Bangladesh pipeline.
- The cross-border pipeline between India and Bangladesh is constructed at the cost of 377.08 crores.
- This project has been financed by a grant of 285.24 crores and 91.84 crores by NRL.
- Only five of the five kms of the cross-border pipeline will run inside the Indian territory, and the remaining will run through Bangladesh.
- One million metric tons per annum are potentially transported by pipeline.
- As with all countries in the subcontinent, refined petroleum accounts for the largest chunks of the import bill in Bangladesh,
Diesel transportation agreement
In 2017, a long-term agreement was signed between India and Bangladesh to send diesel to Bangladesh through the pipeline. This oil pipeline stretches from Siliguri, west Bengal, to Meghna petroleum depot in Dinajpur parbatipur
This cross-border oil pipeline project was started in 2020 that has an initial deadline of June 2022. But this deadline has been pushed back to one year because of the pandemic complications. It stretches 125 km inside Bangladesh territory and 5km inside India.
Conclusion
Previously, Bangladesh used the railway carriage to import diesel from India. But due to the cross-border oil pipeline that will inaugurate on March 18, they import diesel from India through the pipeline.
