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ADB to support Reliance Power's LNG Terminal and Power project

Capital Market 

In Bangladesh

Power announced that the Asian Development Bank has approved debt financing and partial risk guarantees totaling $583 million to develop Power's 750 MW LNG Based Combined Cycle Power plant and LNG Terminal Project in The total project cost is approximately $1 billion.

ADB's support will help Power to develop an initial approximately 750 megawatts of gross power generation capacity and terminal facilities for LNG import. Power plans to increase its power generation capacity to around 3000 MW in Energy from the power plant will be sold into the country's electricity grid under a long term power purchase agreement with the Power Development Board.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, December 05 2017. 09:13 IST