/ Reliance Power Executes Project Agreements With Bangladesh Power Development Board ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 10 April 2017

Reliance Power has executed project agreements with BPDB for phase-I of 750 MW LNG based Combined cycle power project at Meghnaghat, near Dhaka in Bangladesh, which includes Power Purchase Agreement (PPA) and Implementation Agreement (IA). 

An MoU has also been signed with PetroBangla to set up 500 mmscfd LNG terminal at kutubdia island near Chittagong in Bangladesh. The definitive agreements for setting up the LNG terminal will be executed shortly. Full LNG terminal capacity will be used by PetroBangla to meet the huge demand for power and other industries, and replace costly and highly polluting fuels.

Phase-I will have an investment outlay of nearly US$ 1 billion, which is the largest foreign direct investment in Bangladesh. Financing of the project is under consideration of Asian Development Bank.

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