Adani and Reliance ink MoUs for power generation in Bangladesh June 7 [ Current Affairs ]
Adani Power Limited (APL) and Reliance Power Limited of India have signed separate memorandums of understanding (MoUs) with Bangladesh Power Development Board (BPDB) worth $5.5 billion. This agreement was signed on the first day of Indian Prime Minister Narendra Modi’s visit to Bangladesh.
- Both companies were signed deal to set up 4,600 MW power plants in Bangladesh worth $5.5 billion where APL will invest 2.5 billion dollars to set up a coal-based power plant with a capacity of 1,600 MW.
- Other than Reliance Power will set up an imported liquefied natural gas-based power plant with a capacity of 3,000 MW with an investment of 3 billion dollars.
- Adani Power Limited (APL) and Reliance Power Limited of India companies will complete construction of the plants in 13 months after final agreements are reached.
- These plants will help Bangladesh to tackle power shortages and also crimping its economic growth and deterring investment as country produces 7,000 MW of electricity.
- Published on: June 10, 2015