Reliance Power has received in-principle approval from the Bangladesh government for the first phase of a 3,000 megawatt gas-based power plant, paving the way for the largest Foreign Direct Investment in the neighbouring country with a potential investment of over Rs 8,700 crore ($1.3 billion).
“The first phase, a 750 MW power plant, will be set up at Meghnaghat (Narayanganj district), around 40 km south east of Dhaka, along with the FSRU (floating storage and regassification unit) terminal at Maheshkhali Island in Cox’s Bazar district of Bangladesh,” said a company statement, adding that the land at Meghnaghat would be provided by the Bangladesh Power Development Board.
International equipmentThe first phase will be commissioned in 2018-19. Reliance Power proposes to install equipment procured from international equipment suppliers for the combined cycle power project at Samalkot in Andhra Pradesh, in the proposed Bangladesh project.
Reliance Power shares on BSE closed down 3 per cent at Rs 49.75 in a weak Mumbai market on Wednesday.
