addressing the company’s shareholders at the 23rd Annual General
Meeting (AGM), Reliance Power Chairman Anil D.Ambani said, “The company will
also look at the opportunities in the commercial coal mining.”
According to Ambani, the sector "is undergoing a consolidation phase"
and is offering a number of inorganic growth opportunities.
"Company will continue to explore these to accelerate value accretive
growth and exploit synergies with the existing portfolio," Ambani said.
Ambani informed the shareholders that Reliance Power's 750 MW LNG-based power
project in Bangladesh, being implemented with an investment outlay of $1
billion, is expected to achieve financial closure in the current financial
Earlier, Reliance Power had signed a MoU with the Bangladesh government to
develop a 3,000 MW LNG Power project in Meghnaghat and 500 mmscfd LNG terminal
at Qutubdia Island in Bangladesh.
The phase-1 of the project envisages development of a 750 MW power project and
500 mmscfd LNG terminal with an investment outlay of nearly $1 billion which is
the largest FDI in Bangladesh.
The phase 1 is expected to achieve commercial operation by March 2020.