The Indian company Reliance Power has signed several agreements with the Bangladesh Power Development Board (BPDB) and PetroBangla regarding the U$1bn first phase of the US$3bn three-phase proposed integrated project encompassing the construction of a 750 MW LNG-based power plant at Meghnaghat (near Dhaka) and an LNG import terminal in Kutubdia Island (near Chittagong), Bangladesh.
The US$1bn investment for the first phase will be the largest foreign direct investment in Bangladesh.
The agreements include a Power Purchase Agreement and an Implementation Agreement with BPDB for the combined cycle plant project. In the meantime, Reliance Power signed a separate MoU with PetroBangla for the set up of the LNG terminal.
The Kutubdia will have a regasification capacity of 7.5 Mt/year (10.1 bcm/year) and will be used by PetroBangla. The whole LNG terminal cost is estimated at US$950m.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.