Reliance Power has signed agreements to set up the first phase of the integrated 750 MW gas-based power plant at Meghnaghat near Dhaka and 500 mmscfd LNG Terminal at Kutudbia Island in Bangladesh for $1 billion. This represents the largest foreign direct investment (FDI) in Bangladesh and the largest investment in Bangladesh’s energy sector, the company said in a statement.
The terminal use agreement for the LNG Terminal Project was finalised with PetroBangla, a Government of Bangladesh entity on Thursday. The project agreements for Power Project were earlier executed with Bangladesh Power Development Board (BPDB), it said.
Reliance Power will relocate one module of equipment procured for its 2,250 MW combined cycle power project at Samalkot in Andhra Pradesh, India for the Phase-1 project.
The firm had signed an MoU in June 2015 with the BPDB to set up a 3,000 MW, integrated combined cycle gas-based power project and a 500 mmscfd LNG terminal, during the visit of Prime Minister Narendra Modi to Dhaka.
