The Asian Development Bank (ADB) has approved the funding of US $580 million for Reliance Bangladesh power plant project. ADB has approved it for the development of Reliance Bangladesh Liquefied Natural Gas (LNG) and Power Project.
Main Points of Reliance’s Bangladesh power plant project
The financing package of ADB comes in two forms which includes loans and partial risk guarantees for the power generation facility for the LNG terminal and the power project, being set up for $1 billion.
Under the project, the power generating facility will be located at Meghnaghat, near Dhaka. An LNG Terminal will also be constructed near near Kutubdia Island south of Chitagong.
The Reliance’s Bangladesh power plant project will increase power generation capacities of Bangladesh and will be helpful in improvement of energy infrastructure in Bangladesh.
The $580 million funding to Reliance by ADB will help the company for initial set ups of approximate 750 megawatts (MW) of gross power generation capacity and terminal facilities for LNG import.