Meghalaya CM Mukul Sangma and business contingent participate in Bangladesh Investment & Policy Summit 2016

NEW DELHI: Chief Minister of Meghalaya and a strong Indian business contingent participated in the Bangladesh Investment & Policy Summit 2016, held in Dhaka on 24-25 January hoping to boost business and investment ties between the two countries.

In his inaugural address, Dr. Mukul Sangma, Chief Minister Meghalaya referred to the complementarities that existed between the economies of the North East of India and Bangladesh. He invited investments/ collaborations with Bangladesh in regional connectivity through Meghalaya into North Bengal, Bhutan and Nepal; hydroelectricity, sustainable agriculture including innovative use of bamboo, agar, spices and other cash crops; and tourism.

Gautam Adani, Chairman and Founder of the Adani Group of Companies, focussed on investment of $ 8 billion in power, ports and other infrastructure areas. He referred to plans by the Group to invest in setting up a 1600 MW power plant in Bangladesh and another 1600 MW power plant in India for exclusive power supply to Bangladesh. Adani also spoke of using the Dhamra deep sea port in Orissa for bilateral trade with Bangladesh, including under the Coastal Shipping Agreement.

Reliance Group Chairman Anil Ambani’s speech (delivered in his absence by Vice President Samir Gupta) mentioned that the Group proposed to invest $ 3 billion in setting up the largest integrated LNG-based combined cycle power plant in Bangladesh with a total capacity of 3000 MW, along with LNG pre-gasification facilities.