New Delhi/Dhaka: Indian Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina will inaugurate the India-Bangladesh Friendship Pipeline on Saturday via video conferencing, the Ministry of External Affairs confirmed.

"This is the first cross border energy pipeline between India and Bangladesh, built at an estimated cost of INR 377 crore, of which the Bangladesh portion of the pipeline built at a cost of approx. INR 285 crore, has been borne by the Government of India under grant assistance," read the MEA statement.

The Pipeline has a capacity to transport 1 Million Metric Ton Per Annum (MMTPA) of High-Speed Diesel (HSD). It will supply High Speed Diesel initially to seven districts in northern Bangladesh.

The operation of India- Bangladesh Friendship Pipeline will put in place a sustainable, reliable, cost-effective and environment friendly mode of transporting HSD from India to Bangladesh and will further enhance cooperation in energy security between the two countries.