Reliance Power’s $1bn Bangladesh Project To Achieve Financial Closure This Fiscal: Anil Ambani

Reliance Power’s $1bn Bangladesh Project To Achieve Financial Closure This Fiscal: Anil Ambani

Private powergenerator Reliance Powertoday announced its 750 Mega Watt (MW) power project being built at the cost of $1 billion in Bangladesh is expected to achieve financial closure in the current financial year, Chairman Anil Dhirubhai Ambani said today at the company’s 23rd Annual General Meeting (AGM).

The company had signed a Memorandum Of Understanding (MOU) with Bangladesh government to develop 3,000 MW of Liquefied Natural Gas (LNG) based power plant in Meghnaghat and 500 Million Cubic Feet per Day (MMSCFD) LNG terminal at Qutubdia island.

As part of Phase-1, the company is developing the 750 MW power plant and 500 mmscfd LNG terminal with an investment outlay of nearly $1 billion, pegged to be the largest Foreign Direct Investment in the country. Read More…

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