Reliance Power has completed execution of project agreements for Phase - I of its project in Bangladesh. The first Phase of Reliance Power's integrated project consists of 750 MW Combined Cycle Gas Based Power Plant to be set up at Meghnaghat near Dhaka (Power Project) and 500 mmscfd LNG Terminal at Kutudbia Island in Bangladesh (LNG Terminal Project).

The terminal use agreement for LNG Terminal Project was initialed with PetroBangla, a Government of Bangladesh entity. The project agreements for Power Project have already been executed with Bangladesh Power Development Board (BPDB).

The integrated project entails an investment outlay of over USD 1 billion, which represents the largest foreign direct investment (FDI) in Bangladesh and the largest investment in Bangladesh's energy sector.

Reliance Power will relocate one module of world-class equipment procured from internationally reputed original equipment manufacturers for its 2,250 MW combined cycle power project at Samalkot in Andhra Pradesh, India for the Phase-1 project in Bangladesh.

Shares of the company gained Rs 0.3, or 0.79%, to trade at Rs 38.35. The total volume of shares traded was 85,224 at the BSE (10.03 a.m., Friday).