R-Power seals final deal for $1 billion Bangla project

Anil Ambani's telecom empire may be in dire straits at home. But his $1-billion plan to set up a generation station in Bangladesh is powering ahead, with the group arm Reliance Power on Thursday closing the final deal for Phase-I of the project. In the first phase, R-Power is setting up a 750-MW gas-fired power plant at Meghnaghat, some 40 km South-East of Capital Dhaka, and a linked liquid gas import terminal to fuel the power station at Kutudbia Island.The company already had a deal with Bangladesh Power Development Board, which is providing land for the power plant, for selling electricity. Thursday's agreement for liquid gas import terminal, based on floating storage and regasification unit, completes the project contracting process. Th.....