$3 billion is to be invested by India’s Reliance Group in the power sector
12 March 2015, Nirapad News: Reliance Group of India has proposed to invest US Dollar 3 billion in Bangladesh to set up four power plants with a total generation capacity of 3,000 megawatt (MW).
“Initially, the Reliance Group will invest $1.5 billion and then it would be gradually raised to 3 billion,” Prime Minister’s Energy Advisor Dr Tawfiq-e-Elahi told journalists today at the Prime Minister’s Office (PMO).
A meeting to undertake coordinated steps to examine the proposal was held at the PMO today with Dr Tawfiq-e-Elahi in the chair.
Reliance Group Vice Chairman Satish Sheth, Acting Indian High Commissioner Swandwip Chakravarty, Power Division Secretary Monwarul Islam and representatives of the Energy Division, Power Division, Power Development Board, Power Grid Company Bangladesh and Petrobangla were present on the occasion.
In the proposal, Dr Chowdhury said, the Reliance Group has offered to invest $1.5 billion initially, and through the investment, they will set up an LNG-based power plant with 750-MW capacity in the first phase.
“The Reliance Group will build another LNG-based power plant with the same capacity in the second phase,” he added.
The PM’s energy adviser said in today’s meeting, a committee headed by Additional Secretary of the Power Division Dr Ahmed Kaikaus was constituted to earmark the site of the power plants and consider the primary technical aspects. There are two proposed locations–one in Moheshkhali and the other in Meghnaghat–to set up the power plants.
“All concerned including officials of the Reliance Group have been incorporated in the committee and it has been asked to submit its report within one month,” he added. Dr Chowdhury said the Reliance Group will build a floating LNG terminal and the Indian company itself will import LNG to supply it to the power plants.
“The first unit of the power plants will go into operation within two and a half years and the Reliance Group has agreed to make the entire investment,” he added.