Reliance Power Executes Project Agreement For Its Power Project In Bangladesh
Reliance Power Limited completed execution of project agreements for Phase — I of its project in Bangladesh. The first Phase of Reliance Power's integrated project consists of 750 MW Combined Cycle Gas Based Power Plant to be set up at Meghnaghat near Dhaka ("Power Project") and 500 mmscfd LNG Terminal at Kutudbia Island in Bangladesh ("LNG Terminal Project').
The Terminal Use Agreement for LNG Terminal Project was initialled with PetroBangla, a Government of Bangladesh entity.The project agreements for Power Project have already been executed with Bangladesh Power Development Board (BPDB).
The integrated project entails an investment outlay of over US$ 1 billion, which represents the largest foreign direct investment (FDI) in Bangladesh and the largest investment in Bangladesh's energy sector.
Reliance Power will relocate one module of world-class equipment procured from internationally reputed original equipment manufacturers for its 2,250 MW combined cycle power project at Samalkot in Andhra Pradesh, India for the Phase-1 project in Bangladesh.
Reliance Power had signed a MoU on 6th June 2015 with the Bangladesh Power Development Board (BPDB) to set up 3000 MW integrated combined cycle gas-based power project (in phases) and a 500 mmscfd LNG terminal.
Reliance project will give a tremendous boost to the economic and industrial growth of Bangladesh and will enhance the energy security of the country with clean, green and reliable LNG based power.