NTPC to set up its first overseas plant in Bangladesh

State-run National Thermal Power Corp Ltd, India's biggest power producer, would see its first overseas project kick off in Bangladesh when the company starts work on a 1,320 MW power plant in Khulna by May, company chairman and managing director Arup Roy Choudhury said on Monday.

''The project would be an equal joint venture between NTPC and the Bangladesh government. We expect to sign the joint agreement by 29 January,'' Chaudhary told reporters on the sidelines of the India Energy Conclave in New Delhi.

The project is part of the agreement between the two governments signed during Bangladesh Prime Minister Sheikh Hasina's visit to India last year.

The Bangladesh Power Development Board (BPDB) had signed a memorandum of understanding with NTPC in August last year to establish two thermal power projects at Chittagong and Khulna.

The power plants are likely to involve an investment of around Rs13,200 crore. The coal-fired power plants are to be installed on a 50:50 equity basis to be run on imported coal and operated by NTPC.