Reliance Power on Tuesday said that the Asian Development Bank (ADB) had approved its debt financing and partial risk guarantees totalling $583 million to develop a LNG terminal and a 750-MW power project in Bangladesh.
"The ADB's financing package includes loans and partial risk guarantees for the power generation facility, as well as for its Liquified Natural Gas (LNG) terminal. The total project cost is approximately $1 billion," a company statement said.
According to the company, the project includes a power generation facility to be located in Meghnaghat, near national capital Dhaka, and a LNG terminal near Kutubdia Island south of Chittagong, which will significantly increase power generation and boost energy infrastructure in Bangladesh.
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