CURRENT AFFAIRS
CURRENT AFFAIRS
Description
India's Numaligarh Refinery Limited (NRL) establishes its first foreign office in Dhaka, Bangladesh, demonstrating its commitment to worldwide expansion and strengthened regional ties. Pranay Verma, High Commissioner of India to Bangladesh, opens the NRL's liaison office in the presence of NRL managing director Bhaskar Jyoti Phukan and other dignitaries.
The Friendship Pipeline Project
In March 2023, Indian Prime Minister Narendra Modi and Bangladesh Premier Sheikh Hasina will inaugurate it jointly.
Designed to supply petroleum products to Bangladesh, with a capacity of 1 MMTPA of high-speed diesel.
The Bangladesh leg of the pipeline was built at a cost surpassing Rs 285 crore and funded by an Indian government grant.
Impact And Achievement
Since its inception, the Friendship Pipeline has enabled the export of 42 TMT of diesel worth USD 34 million (Rs 282 crore) to Bangladesh.
Increases the efficiency and cost-effectiveness of cross-border diesel supply, reducing carbon footprint and ensuring sustainability.
Establishes a dependable and environmentally sustainable method of satisfying Bangladesh's high-speed diesel needs.
Improving Indo-Bangladeshi Energy Relations
The creation of an NRL office in Dhaka, as well as the smooth operation of the Friendship Pipeline, indicate stronger Indo-Bangladeshi ties, notably in the energy industry.
NRL's international expansion reinforces its commitment to regional collaboration, economic prosperity, and energy security.
Opens a new chapter in bilateral ties marked by mutual trust, collaboration, and shared prosperity.
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