Mumbai, India (BBN) – 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, reports The Hindu Business Line.
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.