India’s power generator, Reliance Power, executed project agreements for the first phase of its LNG projects at Kutudbia Island in Bangladesh.
The terminal use agreement for the 500 mmscfd LNG terminal project was signed with the state-run PetroBangla, Reliance said in a filing to the stock exchange.
The project agreements for the 750 MW combined cycle power plant to be set up at Meghanaghat near Dhaka have already been executed with Bangladesh Power Development Board
The company signed a memorandum of understanding with the BPDB in June 2015 to set up a 3000 MW integrated combined cycle gas-based power project (in phases) as well as the LNG import terminal.
The integrated project entails an investment outlay of over $1 billion which represents the largest foreign direct investment in Bangladesh as well as the largest in the country’s energy sector.
For the power plant project, Reliance Power plans to relocate one module of equipment for its 2,250 MW project at Samalkot in Andhra Pradesh, India.