Reliance Power Gets $583 Mln Backing From ADB For Bangladesh Plant

Reliance Power Gets $583 Mln Backing From ADB For Bangladesh Plant

Anil Ambani Group-controlled Reliance Power said Asian Development Bank has approved debt financing and partial risk guarantees totaling $583 million to the company’s Bangladesh LNG and Power Project.

“ADB’s financing package includes loans and partial risk guarantees for the power generation facility, as well as for the LNG terminal. The total project cost is approximately $1 bilion,” the company said.

ADB’s support will help Reliance Power Limited to develop an initial approximately 750 megawatts (MW) of gross power generation capacity and terminal facilities for LNG import.

Reliance Power plans to increase its power generation capacity to around 3,000 MW in Bangladesh. Read More…

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