Dhaka, Bangladesh (BBN)- India’s Reliance Group has proposed to invest US$3.0 billion in Bangladesh for setting up four power plants with a total generation capacity of 3,000 megawatt (MW).

“Initially, the Reliance Group will invest $1.5 billion and it would be gradually raised to three billion,” Prime Minister’s Energy Advisor Dr Tawfiq-e-Elahi told reporters at the Prime Minister’s Office (PMO) in Dhaka on Thursday.

A meeting to undertake coordinated steps to examine the proposal was held at the PMO on the day with Dr Tawfiq-e-Elahi in the chair.

At the 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.

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.
There are two proposed locations–one in Moheshkhali and the other in Meghnaghat–to set up the power plants.

BBN/SSR/AD-13Mar15-12:55 am (BST)