Companies

ADB to lend $583 million for Reliance Power Bangladesh project; shares fall 1%

Our Bureau Mumbai | Updated on January 09, 2018 Published on December 05, 2017

RPower project will significantly increase power generation and improve energy infrastructure in Bangladesh.

ADB packages includes debt financing and partial risk guarantees for LNG terminal and 750-MW power project

The Asian Development Bank’s (ADB) board of directors has approved debt financing and partial risk guarantees totalling $583 million to develop Reliance Power's liquified natural gas (LNG) terminal and a 750-MW power project in Bangladesh.

The project, which includes a power generation facility to be located in Meghnaghat, near the capital city of Dhaka, and an LNG terminal near Kutubdia Island, south of Chiitagong, will significantly increase power generation and improve energy infrastructure in Bangladesh.

ADB’s financing package includes loans and partial risk guarantees for the power generation facility, as well as for the LNG terminal. The total project cost is approximately $1 billion.

The company shares were trading down by 0.95 per cent at Rs 36.40 on the BSE.

Published on December 05, 2017
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