Petroleum and Natural Gas Minister Dharmendra Pradhan said that energy cooperation between India and Bangladesh has made considerable progress during the last few years. He said, this is part of Prime Minister Narendra Modi’s vision to build an energy bridge with Bangladesh as a part of our Neighbourhood First Policy.

Yesterday, Mr. Pradhan witnessed the signing of a Joint Venture Agreement between Indian Oil Corporation Ltd. and RR Holdings Ltd. of Beximco Group. Through this joint venture, Indian Oil Corporation together with Beximco plans to further expand its downstream business in Bangladesh and other countries.

Speaking about the agreement, Mr Pradhan said, this event marks yet another step towards expanding bilateral energy cooperation with Bangladesh. He expressed confidence that the experience of Indian Oil as a pioneer in implementing Pradhan Mantri Ujjwala Yojana would help in promoting the use of LPG in Bangladesh. He said, this venture would be a catalyst of socio-economic change through increase in access to clean cooking fuel in Bangladesh.

Adviser to Bangladesh’s Prime Minister Salman Fazlur Rahman said that the agreement should serve as a testament to the remarkable investment potential of Bangladesh. He said, at a time when the entire world is grappling with the severe economic consequences of the COVID-19 pandemic, this investment reflects the resilient and enduring friendship between Bangladesh and India.