NTPC Ltd.

Bangladesh signed a USD 1.5 billion deal with India's NTPC to build a 1,320 MW coal-fired power plant, the country's biggest, to help ease acute power shortages. Bangladesh's state-owned Power Development Board (PDB) struck the 50:50 joint venture deal with India's public sector National Thermal Power Company (NTPC). Under the pact, a JV company will be floated to install and operate the plant while the PDB and the NTPC will implement the USD 1.5 billion project. The plant will be set up at Bagerhat's Rampal. The JV is expected to supply electricity to the national grid by 2015. Of the total project cost, 70 per cent will be arranged through loans and the rest will be equally shared between the JV partners.