Reliance Power has received an approval in principle from Bangladesh for the first phase of its LNG-based power plant project that includes a floating storage and regasification unit (FSRU).
According to the company’s statement issued on Wednesday, the first phase of the 750 MW power plant will be set up at Meghnaghat, around 40 km South-East of Dhaka along with the FSRU terminal at Maheshkhali Island in Cox’s Bazar district of Bangladesh.
The power plant will be built on the land provided by the Bangladesh Power Development Board.
The FSRU, that will fuel the power plant, will additionally supply re-gasified LNG to PetroBangla of Bangladesh, Reliance Power, a part of India’s Reliance Group said.
The project will be developed in phases. The first phase of the project is expected to be completed in 2018-2019, 24 months after the construction starts on what Reliance Power claims is the largest foreign investment in Bangladesh at about US$1.3 billion.
LNG World News Staff