Bangladesh has appointed a British law firm to represent the Bangladesh Power Development Board (BPDB) in mediation proceedings at the Singapore International Arbitration Centre against Adani Power Limited, a significant step in the long-running dispute over coal pricing and power tariffs.
Confirming the development, BPDB officials said that the nominees' names had already been submitted to SIAC on behalf of the state utility.
Power Division officials said the appointed firm is 3 Verulam Building, a UK-based law chambers headed by King's Counsel Farhaz Khan, who has been advising the National Review Committee for several months.
To support the King's Counsel, BPDB has also appointed two local experts, one from the power sector and another a Supreme Court lawyer, officials added.
In a separate development, an international arbitration has ordered Canadian energy company Niko Resources to pay $42 million in compensation to Bangladesh over the Chhatak gas field blowouts in 2005.
The verdict of the International Centre for Settlement of Investment Disputes (ICSID) was conveyed to the government through official channels a few days ago, officials said.
