A Memorandum of Understanding (MoU) was signed between Bangladesh Power Development Board (BPDB) and top India conglomerates Reliance and Adani groups on Saturday.
The deal was inked at Bidyut Bhaban in the capital at 11:30am.
According to the MoU, Adani Power Limited, a concern of Adani Group, will construct a 1,600 MW power plant at Moheshkhali while Reliance Power signed an agreement for a 3,000 MW project in Bangladesh.
‘The plans for the power projects are in line with Modi’s vision of building an EU-modelled economic zone connecting Bangladesh, Nepal and Bhutan with India’, reports the Indian Express.
‘The two projects are expected to help Bangladesh achieve its 20,000-MW target by 2020. The projects will also help ease a 7,000-MW power deficiency in the country’.
Reliance Power and Adani Group will invest nearly $5 billion to set up the power plants.
Bangladesh power, energy and mineral resources minister Nasrul Hamid, National Parliament standing committee on power Tajul Islam MP, Bangladesh power division secretary Monowar Islam, energy division secretary Abu Bakar Siddique, among others, were present at the MoU signing ceremony.