ABD approves debt financing of Reliance Power s Bangladesh project

Mumbai Dec 5 (IANS) Reliance Power on Tuesday said that the Asian Development Bank (ADB) had approved its debt financing and partial risk guarantees totalling $583 million to develop a LNG terminal and a 750-MW power project in Bangladesh.

"The ADB s financing package includes loans and partial risk guarantees for the power generation facility as well as for its Liquified Natural Gas (LNG) terminal. The total project cost is approximately $1 billion " a company statement said.

According to the company the project includes a power generation facility to be located in Meghnaghat near national capital Dhaka and a LNG terminal near Kutubdia Island south of Chittagong which will significantly increase power generation and boost energy infrastructure in Bangladesh.

--IANS
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