Reliance Power awards Rs 5,000 cr Bangladesh project to Reliance Infrastructure

Reliance Infrastructure Limited said it won two constructiong contracts in Bangladesh together valued at Rs. 5,000 crore.

The contracts arer for creating a 750 MW LNG-based combined cycle power plant at Meghnaghat (Dhaka) while the second project is for building a 500 MMSCFD floating storage regasification unit (FSRU) based integrated LNG terminal project at Kutubdia Island, both in Bangladesh.

The announcement comes a day after group entity Reliance Power said it won the backing of Asian Development Bank for the above two projects.

“The Board of Asian Development Bank (ADB) has approved debt financing and partial risk guarantees totalling USD 583 million (approx Rs 3,748 crore) for 750 MW LNG based combined cycle power plant and LNG Terminal project being developed by the company’s subsidiaries in Bangladesh,” the company said on Tuesday.

The projects seem to have been entrusted to Reliance Infrastructure for implementation.

Both the contracts are to be executed in a project schedule of 24 months, and are to be completed by 2019.
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