Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina will inaugurate the India-Bangladesh Friendship Pipeline on Saturday through video-conferencing.
According to reports, it is the first cross border energy pipeline between India and Bangladesh, built at an estimated cost of Rs 377 crore. 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.
Prime Minister Modi and his Bangladeshi counterpart will inaugurate the India-Bangladesh Friendship Pipeline on Sunday.
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 the 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, the statement further Said.
Moreover, India and Bangladesh signed seven Memorandum of Understandings (MoU) in New Delhi on Tuesday with an aim of boosting ties between the two countries.
The MoUs, signed after legation-level talks between Prime Minister Narendra Modi and his visiting Bangladesh counterpart Sheikh Hasina, are related to water sharing, railways, space, science and judiciary.
PM Modi said that the trade between the two countries is rapidly increasing. He said, "We have decided to extend cooperation in the IT, space and nuclear sectors."
The pacts inked between the two countries will benefit southern parts of Assam in India and the Sylhet region in Bangladesh, PM Modi said.