Reliance Power to Invest USD 1 Billion for Power Project

Posted on

ReReliance Power, Stock In the newsliance Power Ltd today, 11.4.2017, said that the company has inked the agreements with BPDP (Bangladesh Power Development Board) for 750 MW LNG power project, in phase-I, at Meghnaghat near Dhaka entailing an investment of nearly USD 1 billion, Reliance Power released in statement.

The company has also signed an MoU with Petro Bangla to establish 500 MMSCFD LNG terminal at Kutubdia Island near Chittagong in Bangladesh. The definitive agreements for establishing the LNG terminal will be executed with Petro Bangla shortly.

The phase-I development involves an investment outlay of nearly 1 billion dollar which is the largest foreign direct investment (FDI) in Bangladesh. The project financing is under consideration of ADB (Asian Development Bank) and a consortium of lenders, Reliance Power said.

The project will give a remarkable boost to the economic and industrial expansion of Bangladesh and help to boost up the energy security with clean, green and reliable LNG based power.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s