Bangladesh Power Development Board (BPDB) has signed a deal with Indian company Reliance Power to develop 3GW liquefied natural gas (LNG)-based combined cycle power project (CCPP) in the country.

According to the terms of the memorandum of understanding (MoU), Reliance Power will deliver a storage and re-gasification unit (FSRU)-based LNG terminal at Maheshkhali Island in Cox’s Bazar district.

The LNG terminal will provide re-gasified LNG to the power facility, which will help the country to meet its clean and green power demand.

The national power development board will be providing the land for the CCPP development.

"Reliance Power will deliver a storage and re-gasification unit (FSRU)-based LNG terminal at Maheshkhali Island in Cox’s Bazar district.quot;

Expected to cost around $3bn, the project is a part of the country’s 2010 Master Plan which intends to make use of the domestic gas reserves.

The development represents the largest foreign investment in Bangladesh, which is expected to be done in phases.

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Reliance Power is also responsible for setting up a 2,400MW gas-based combined cycle power plant in India.

The firm will procure equipment of the facility, which is located at Samalkot in the state of Andhra Pradesh, from International suppliers.

The proposed project is likely to have installation of equipment, which are similar to those procured for Samalkot project, including advanced class 9FA machines from US-based technology firm General Electric.