Reliance Power, Adani to invest $5 billion in Bangladesh power plants during PM Modi's trip

DHAKA: Anil Ambani Group firm Reliance Power and Adani Group are set to sign agreements to invest nearly $5 billion to set up two power plants in Bangladesh during Prime Minister Narendra Modi's visit here tomorrow.

The two groups will sign separate MoUs with Bangladesh's Power Development Board, sources said.

Reliance Power will set up a 3,000 megawatt power plant based on imported LNG at an invetment of about $3 billion. Adani Group would set up a 1,600 MW coal-fired power plant at southern Bangladesh island of Maheshkhali at an investment of $2 billion.

Bangladesh faces acute power shortage and the two plants will help partly mitigate shortfalls.