Reliance Power (RPower) announced on Thursday said that it has signed the project agreements for executing the first phase of its gas-fired power plant and liquefied natural gas (LNG) terminal integrated project in Bangladesh.
"Reliance Power today (Thursday) completed execution of project agreements for Phase - I of its project in Bangladesh," an RPower release said here.
"The first Phase of Reliance Power's integrated project consists of 750 MW combined cycle gas based power plant to be set up at Meghnaghat near Dhaka and 500 mscfd (million standar cubic feet per day) LNG Terminal at Kutudbia Island in Bangladesh," it said.
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R-Power said the Terminal Use Agreement for the LNG Terminal project was signed with Bangladesh state-run PetroBangla.
"The project agreements for the power project have already been executed with Bangladesh Power Development Board (BPDB)," it added.
The integrated project entails an investment outlay of over $1 billion, which represents the largest foreign direct investment (FDI) in Bangladesh and the largest investment in the country's energy sector, the statement said.
"Reliance Power will relocate one module of world-class equipment procured from internationally reputed original equipment manufacturers for its 2,250 MW combined cycle power project at Samalkot in Andhra Pradesh, for the Phase-1 project in Bangladesh," it said.
The MoU for the integrated project was signed in June 2015 in Dhaka during the Bangladesh visit of Prime Minister Narendra Modi.
"The Reliance project will give a tremendous boost to the economic and industrial growth of Bangladesh and will enhance the energy security of the country with clean, green and reliable LNG based power," it added.
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