Reliance Power has signed a deal with Bangladesh Power Development Board (BPDB) for the first phase of a 750 MW, LNG-fuelled power project at Meghnaghat, near Dhaka in Bangladesh.
The plant will entail investment of $1 billion, which is the largest overseas direct investment in Bangladesh, according to a report in The Hindu.
Reliance said: “These agreements include Power Purchase Agreement (PPA) and Implementation Agreements (IA) for the proposed integrated combined cycle power project,” adding that the agreements were exchanged in the presence of Prime Minister of Bangladesh Sheikh Hasina at a business summit in New Delhi on April 10th.
Reliance Power also signed an MoU with PetroBangla to set up a 500 mmscfd LNG terminal at Kutubdia Island near Chittagong in Bangladesh. The definitive agreements for setting up the LNG terminal will be executed with PetroBangla shortly. Full LNG terminal capacity will be used by PetroBangla to meet the high demand for power and other industries and replace costly and highly polluting fuels, reported The Hindu.
Reliance Power will relocate equipment procured earlier for its 2,250 MW combined cycle power project at Samalkot in Andhra Pradesh.