Reliance Power will set up a 2 million tonnes a year floating LNG import terminal as well as 3,000 megawatt power plant, according to a memorandum of understanding (MoU) signed by Sameer Gupta, Executive Vice President of Reliance Power, during Prime Minister Narendra Modi' two-day visit here.

The company will use the equipment it had contracted for its Samalkot project in Andhra Pradesh for setting up the power plant in Bangladesh in three years from the date of signing power purchase agreement (PPA).

The equipment will be under appropriate warranties from General Electric (GE), USA and the other global suppliers, the company said in a statement.

Reliance Power was implementing a 2,400 MW gas based power project at Samalkot in Andhra Pradesh. The project was to be allocated gas from Reliance Industries' KG-D6 block but due to the drastic decline in production, the project has not got any gas so far.

The equipment for the project has been procured and is ready with the company. Use of these brand new equipments will put the implementation of Bangladesh project on fast track.

"Reliance is proposing to utilize these brand new equipment from Samalkot project, including advanced class 9FA machines supplied by GE, for the proposed project at Bangladesh, under appropriate warranties from GE and the other equipment suppliers. This will help set up the project on a fast-track basis," it added.

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