NTPC signs JV pact for $1.5bn plant in Bangladesh
30 Jan 2012
Bangladesh on Sunday signed an agreement with India's National Thermal Power Corp for constructing a 1,320 MW power plant in Bangladesh at a cost of $1.5 billion. This will be the biggest power plant in the electricity-starved country.
Bangladesh's Power Development Board (PDB) signed the deal with state-owned NTPC for the construction of the power plant in Bagerhat, around 180km from Dhaka. It is scheduled to be completed by 2015.
PDB chairman A S M Alamgir Kabir signed the agreement with NTPC chairman Arup Roy Chowdhury.
Kabir said both countries will have an equal partnership in the plant.
Under the pact, a joint venture company will be floated to install and operate the plant, while the PDB and the NTPC will implement the project.
India's power secretary Uma Shankar said the deal opened up a "great platform" for better cooperation between the two neighbours.