Reliance Power signs pact for US$1 billion power project in Bangladesh
Tanay Loya / 01 Dec 2017
Reliance Power announced that it has signed agreements to execute first phase of a USD 1 billion power project in Bangladesh.
Reliance Power announced that it has signed agreements to execute first phase of a USD 1 billion power project in Bangladesh.
The first phase of the project consists of 750 MW combined cycle gas-based power plant to be set up near Dhaka and a 500 mmscfd LNG Terminal at Kutudbia Island in Bangladesh, reported the company in a regulatory filing.
The company also said that the project entails an investment outlay of over US$ 1 billion, which is also the largest foreign direct investment in Bangladesh.
Reliance Power, a part of the Reliance Group, is a private sector power generation and coal resources company. The company is involved in developing, constructing and operating power projects both in India as well as internationally.
On Friday, Reliance Power closed at Rs 37.45, down Rs 0.55, or 1.45 per cent on the NSE. The scrip opened at Rs 38.80 and touched a high and low of Rs 38.80 and 37.30, respectively. The stock attracted a traded volume of 29,78,171 shares on NSE.
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