Mumbai: Anil Ambani's company Reliance Group has joined hands with the Japanese company under the burden of debt. Reliance Power, which works in the power sector, has tied up with Japanese giant JERA for setting up a 750 MW gas-based power project (Phase I) at Meghnaghat, Bangladesh. The company told the stock market that Reliance Power would hold 51% stake in the joint venture while JERA would hold the remaining 49% stake.
The installation of the project will take place within 36 months of the signing of the agreement. The company said that the deal would reduce Reliance Power's debt by Rs 835 crore ($ 116 million). Which he had to pay to America - Exim. Reliance Group Chairman Anil Ambani said, "This joint venture will boost Bangladesh's industrial growth and economic growth."
Clean and reliable LNG based electricity will increase the energy security of the country. Let us know that Anil Ambani's Reliance Communications has a debt of about 49 thousand crores. The company can sell it to deal with it. The lenders are expected to get between Rs 9,000 crore and Rs 10,000 from the sale of Reliance Communications and its two units of spectrum and towers. The total debt of Reliance Group in 2018 was Rs 1.7 lakh crore.
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