Bangladesh signs agreement with Reliance Power to set up gas-based plant in Meghnahat

The Government of Bangladesh has signed an agreement with Reliance Power of India to set up 750 Mega Watt gas-based power plant in Meghnahat near Dhaka. The construction of the plant will be completed by 2022 and its estimated cost is one billion dollars. Under the agreement, Bangladesh will purchase electricity from the project for a period of 22 years at a pre-decided tariff rate equivalent to 5.85 Takas per unit at a total cost of approximately 8 billion dollars. Apart from this, a Memorandum of Understanding (MoU) has also been signed with Petro Bangla to set up 500 Million standard cubic feet per day LNG terminal at Kutubdia Island near Chittagong in Bangladesh.