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Publish Date : 23-Apr-2013

Dhaka will ink three agreements with New Delhi to realize the proposed 1,320 megawatt coal-fired power plant project in joint venture at Rampal, a place near the Sundarbans, the globe’s largest mangrove forest rated by the Unesco as World Heritage Site.

Implementation agreement (IA), power purchase agreement (PPA) and supplementary joint venture agreement (SJVA) are comprised in the deals.

Already, Indian National Thermal Power Corporation (NTPC) and Bangladesh Power Development Board (PDB) have created a special purpose firm, Bangladesh-India Friendship Power Company, to execute the power plant project.

The two state-run firms will establish the power plants on 50:50 equity basis, which will cost around $1.5bn. The project's lion part of the fund will be arranged from lending organizations.

Bangladesh and India earlier inked several agreements and memorandum of understandings (MoUs).

Bangladesh power ministry joint secretary Anwar Hossain stated: "We hope the signing of these deals will give a boost to the project's work. Now, we believe, this will create the actual pace to the project."

The project is slated and targeted to complete by 2018, according to Power ministry sources.

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