Reliance Power last week signed project agreements for executing the first phase of its gas-fired power plant and liquefied natural gas (LNG) terminal integrated project in Bangladesh.
The first phase comprises setting up a 750 MW combined cycle gas based power plant in Meghnaghat near Dhaka and a 500 million standard cubic feet per day (mmscfd) LNG terminal in Kutudibia Island. The terminal, including a floating storage and regasification unit, will supply LNG to the power station and PetroBangla.
The terminal usage agreement was signed with PetroBangla the same day. The company already had a deal for selling electricity with Bangladesh Power Development Board (BPDB), which is providing land for the power plant. The integrated project entails an investment outlay of over US$ 1 billion, the largest foreign direct investment in Bangladesh and the largest investment in Bangladesh’s energy sector.
Reliance Power had signed the memorandum of understanding with BPDB on June 6, 2015 during Indian Prime Minister Narendra Modi’s visit to Dhaka.