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India’s Largest FDI in Bangladesh Anil Ambani’s Reliance Power inks the largest FDI deal for India in Bangladesh

Reliance Power has entered into an agreement with Japanese utility JERA to set up a 750-megawatt (MW) power plant in Bangladesh

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India’s Largest FDI in Bangladesh Anil Ambani’s Reliance Power inks the largest FDI deal for India in Bangladesh

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  1. India’s Largest FDI in Bangladesh Anil Ambani’s Reliance Power inks the largest FDI deal for India in Bangladesh

  2. Reliance Power has entered into an agreement with Japanese utility JERA to set up a 750-megawatt (MW) power plant in Bangladesh.

  3. Reliance Power will hold 51 per cent stake while JERA will have 49 per cent in the JV.

  4. In 2015, Reliance Power had signed a MoU with Bangladesh to set up a total of 3,000 MW of power generation capacity.

  5. This will help Reliance Power repay Rs. 835 crore worth of debt.

  6. Reliance Power is also the equipment provider for the project.

  7. It will relocate the equipment from AP’s Samalkot power plant to Bangladesh.

  8. It plans to use funds paid for the equipment for repayment of debt worth Rs. 835 crore.

  9. Stock markets have reacted positively to the news with Reliance Power shares jumping 11% in intraday trading.

  10. The project would be developed on a build-operated-transfer model.

  11. The project is likely to cost around Rs. 5,430 crore or $750 million.

  12. This landmark project represents India’s largest Foreign Direct Investment in Bangladesh.

  13. Reliance Power’s foray will strengthen the energy ties between India and Bangladesh.

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