Anil Ambani-led Reliance Power has won approval of the Bangladesh Government for the first phase of the 3,000 megawatt LNG-based power plant.
According to the statement issued by the company, the first phase of 750 MW power plant will be set up at Meghnaghat (Narayanganj district), around 40 km South-East of Dhaka along with the FSRU terminal at Maheshkhali Island in Cox's Bazar district of Bangladesh.
The company will set up a two million tonnes a year floating LNG import terminal with a floating storage and re-gasification unit (FSRU) to bring the fuel in ships for firing the power plant.
"Power plant land at Meghnaghat will be provided by Bangladesh Power Development Board (BPDB). FSRU-based LNG terminal will supply re-gasified LNG for the power project and additional RLNG to PetroBangla," the company release stated.
This will be the largest foreign direct investment in Bangladesh with a potential investment of over USD 1.3 billion. Total investment in the 3,000 MW power plant together with LNG terminal would be close to USD three billion.
The company will use the equipment it had contracted for its Samalkot project in Andhra Pradesh for setting up the power plant in Bangladesh.
Reliance Power is proposing to install the world-class equipment procured from internationally reputed equipment suppliers for combined cycle power project at Samalkot in Andhra Pradesh, including advanced class 9FA machines supplied by GE, in the proposed project at Bangladesh. This will help set up the project on a fast-track basis.