rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » NTPC Bangladesh project work to start by May

NTPC Bangladesh project work to start by May

November 16, 2010 11:38 IST

State-run NTPC would commence work on its first overseas project in Bangladesh by May 2011, said Chairman and Managing Director Arup Roy Choudhury.

"We have conducted feasibility studies at two places in Bangladesh - Khulna and Chittagong - for coal-based power projects. The work on Khulna plant is expected to start by April-May 2011," he said.

The development holds bilateral significance, as both India and Bangladesh had decided to improve economic ties in a 'win-win' mode during Bangladesh Prime Minister Sheikh Hasina's visit earlier this year.

Following the visit, a memorandum of understanding was signed to form an equal joint venture (JV) between NTPC and Bangladesh Power Development Board to develop two power projects of about 1,320 MW.

Choudhury said, "Our Sri Lanka venture is also likely to happen soon, as we are waiting for the clearance of power purchase agreement."

 

Shine Jacob in Kolkata
Source: