Reliance power has completed signing of agreements, to execute first phase of its USD 1 billion power project in Bangladesh.

The agreement has been signed for setting up the first phase of the integrated 750 MW gas-based power plant at Meghnaghat near Dhaka and 500 mmscfd LNG Terminal at Kutudbia Island in Bangladesh for USD 1 billion.

Reliance Power will relocate one module of the equipment purchased for its 2,250 MW combined cycle power project at Samalkot in Andhra Pradesh, for the Phase-1 project in Bangladesh.

Moreover, the firm had signed an MoU on June 6, 2015 with the Bangladesh Power Development Board (BPDB) to set up 3,000 MW integrated combined cycle gas-based power project (in phases) and a 500 mmscfd LNG terminal, during the visit of PM Narendra Modi to Dhaka.

Read EquityPandit’s Technical Analysis of Nifty Energy Outlook for the Week