Bangladesh’s interim government accuses Adani Power of breaching a 2017 power deal by withholding tax benefits from its Godda plant, which supplies energy to Bangladesh at significantly higher costs than similar deals. Amid a $650-$900 million payment dispute and ongoing dollar shortages, Bangladesh plans to renegotiate terms to enforce tax clauses and lower tariffs, potentially saving $28.6 million annually. Adani Power, which halved supply due to arrears, denies wrongdoing. Investigations into the deal’s irregularities are ongoing, with arbitration in Singapore being a possible next step.
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