Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina jointly inaugurated the India-Bangladesh Friendship Pipeline via video conferencing on Saturday.

During his address in the inauguration ceremony, PM Modi said, “Today is the start of a new edition of relations between India and Bangladesh. The India-Bangladesh friendship pipeline was initiated in September 2018. This pipeline will help in providing Northern West Bengal districts with 1 million metric tonnes of high-speed diesel. This will reduce the cost and will also reduce the carbon footprint of the supply.”

He further said, “I am confident that this pipeline will further speed up the development of Bangladesh and be an excellent example of the increasing connectivity between both the countries.”

PM Modi also stated that the neighboring country has made remarkable progress under the leadership of in last few years, under the leadership of Sheikh Hasina.

The 130-kilometre long pipeline is the first cross border energy pipeline between India and Bangladesh, built at an estimated cost of Rs 377 crores. Out of this the Bangladesh portion of the pipeline built at a cost of approximately Rs 285 crore, has been borne by the Indian government under grant assistance, a statement issued by the Prime Minister's Office said.

According to the Dhaka-Delhi agreement, fuel oil would be transported to Bangladesh for 15 years through the pipeline in the first phase and the term would be extended on the consensus of the countries.

The statement said that the Pipeline has a capacity to transport 1 Million Metric Ton Per Annum (MMTPA) of High-Speed Diesel (HSD). It will supply high speed diesel initially to seven districts in northern Bangladesh.

The operation of India-Bangladesh Friendship Pipeline will put in place a sustainable, reliable, cost-effective and environment-friendly mode of transporting HSD from India to Bangladesh and will further enhance cooperation in energy security between the two countries.