SEPTEMBERASIA BUSINESS OUTLOOK8NEWSROOMDUBAI CHAMBERS INKS MOU WITH BANK OF CHINA TO BOOST BILATERAL TRADEAdani Power has reaffirmed its commitment to supplying electricity to Bangladesh, emphasizing that recent changes in India's power export regulations do not impact its current agreement with the country. The company clarified that the new amendment facilitates connectivity to the Indian grid but does not obligate India to purchase electricity from these generators.Adani Power's 1,600 MW Godda plant in Jharkhand is uniquely positioned as the only facility in India that exports 100% of its power output to a neighboring country. The regulatory amendment now allows Adani Power to supply electricity to the domestic market as well, offering a safeguard against potential political risks in Bangladesh.Despite these changes, Adani Power assured that it remains committed to fulfilling its contractual obligations with the Bangladesh Power Development Board (BPDB), in line with the power purchase agreement and Bangladesh's demand schedule.Adani Power, located in Khodiyar in Ahmedabad, India, is a subsidiary of the Adani Group and is a multinational company in the power and energy sector. A private company generates thermal power, with a capacity of 15,250 MW and runs a large solar plant of 40 MW in Naliya, Bitta, Kutch, Gujarat. Adani Godda Power is currently constructing a 1,600 MW facility in Jharkhand. The company has entered into long-term power purchase agreements totaling approximately 9,153 MW with the governments of Gujarat, Maharashtra, Haryana, Rajasthan, Karnataka, and Punjab. The agreement is signed as the UAE and China celebrate their 40th anniversary of diplomatic relations. Trade and investment connections between the two markets have been increasing consistently, as Dubai becomes a more appealing option for Chinese companies looking to expand regionally and internationally in every industry.Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, signed the MoU with XinYuan Pan, General Manager of Bank of China ­ Dubai Branch, at Dubai Chambers' headquarters.The agreement establishes a structure for increased collaboration between the two parties and is intended to help them reach their common goals by sharing knowledge and services, while also improving support for investors, entrepreneurs, and businesses in Dubai and China to promote bilateral trade and investments and enhance economic relations.The signature precedes the Dubai Business Forum - China, which Dubai Chambers will host in Beijing on August 21. The goal of the occasion is to showcase the various investment opportunities in Dubai for Chinese investors in a variety of important industries. ADANI GROUP TO CONTINUE SUPPLYING ELECTRICITY TO BANGLADESH
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