RInfra wins Rs 5,000 cr EPC contracts in Bangladesh

Mumbai Dec 6 (IANS) Reliance Infrastructure (RInfra) on Wednesday announced it has won two major engineering procurement and construction (EPC) contracts in Bangladesh valued at Rs 5 000 crore through an international competitive bidding.

The first EPC contract is for setting up the entire infrastructure of a 750 MW liquefied natural gas (LNG)-based combined cycle power plant at Meghnaghat near Dhaka.

The second project is for building a 500 million metric square cubic feet per day (mmscfd) floating storage regasification unit-based integrated LNG terminal project at Kutubdia Island.

"Both the contracts are to be executed in a project schedule of 24 months and are to be completed by 2019.

"The integrated LNG terminal project works would include setting up jetty and onshore and offshore gas pipelines " an RInfra release said here.

"This power project win comes after winning an EPC order for Rs 3 675 crore from NLC India Ltd for setting up two lignite based thermal power projects of 250 MW capacity each " RInfra Chief Executive (EPC) Arun Gupta said in the statement.

On Tuesday subsidiary firm Reliance Power (R-Power) announced that the Asian Development Bank (ADB) had approved its debt financing and partial risk guarantees totalling $583 million for the integrated project in Bangladesh.

Last week it announced the signing of the project agreements for executing the first phase of its gas-fired power plant and LNG terminal integrated project.

R-Power said the Terminal Use Agreement for the LNG Terminal project was signed with Bangladesh state-run PetroBangla.

"The project agreements for the power project have already been executed with Bangladesh Power Development Board " it added.

The integrated project entails an investment outlay of over $1 billion which represents the largest foreign direct investment (FDI) in Bangladesh and the largest investment in the country s energy sector the statement said.

--IANS
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