Reliance Power bags $1.3 billion power project in Bangladesh | business | Hindustan Times
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Reliance Power bags $1.3 billion power project in Bangladesh

Anil Ambani-led Reliance Power has bagged a 750 MW natural gas-based project in Bangladesh, with a potential investment of around $1.3 billion, touted as one of the largest for the South Asian country.

business Updated: May 04, 2016 15:40 IST
Anil Ambani

Anil Ambani-led Reliance Power has bagged a power project in Bangladesh, with a potential investment of around $1.3 billion, touted as one of the largest for the South Asian country.(Reuters)

Anil Ambani-led Reliance Power has bagged a 750 MW gas-based power project in Bangladesh, with a potential investment of around $1.3 billion, touted as one of the largest for the South Asian country.

“Under the approval, the first phase of 750 MW plant will be set up at Meghnaghat in Narayanganj district, some 40 km south-east of Dhaka, with a floating storage and regasification terminal at Maheshkhali Island in the Cox’s Bazar district of Bangladesh,” a Reliance Power statement said.

During a visit to Dhaka in June last year, Prime Minister Narendra Modi had assured India’s help to Bangladesh in achieving 21,000 MW of power generation capacity by 2021 and asked the Sheikh Hasina government to facilitate the entry of Indian companies in the sector.

Reliance Power had signed a memorandum of understanding with the Bangladesh government then, for developing 3,000 MW of capacity in phases with a potential investment of $3 billion.

The company has one of the largest portfolios of power projects in the private sector in India based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts.