DHAKA: India’s state-run utility NTPC Ltd will set up a huge 1320-megawatt coal-fired power plant under joint venture with Bangladesh’s Power Development Board (PDB) under a deal signed Monday.

The Power Development Board (PDB) Monday signed a memorandum of understanding with NTPC Ltd in the Indian capital—at a time when Bangladesh reels from nagging power shortages.

“NTPC may set up a 1320 MW coal-based power plant in Bangladesh in joint venture with BPDB, subject to techno-economic viability, for mitigating the power shortage of Bangladesh,” the NTPC said in a statement issued from New Delhi.

As per the MOU, NTPC will also provide training to develop human resources of BPDB and assist in enhancing productivity and efficiency of their existing power stations.

Mohammad Abul Quasem, Chief Engineer (Generation ) of BPDP, and Shri AK Sharma, General Manager I/C NTPC Consultancy Wing, signed the MOU from respective sides.

Indian Power Secretary P Uma Shankar , Bangladesh’s High Commissioner to new Delhi Tariq A. Karim, CMD of NTPC RS Sharma, JS of Thermal ICP Keshari, Chairman of BPDB ASM Alamgir Kabir, Deputy Secretary of Power Division of the Ministry of Power, Energy and Mineral Resources Sheikh Faezul Amin and other senior officials of NTPC and Bangladesh High Commission were present on the occasion.

A PDB official from New Delhi told banglanews24.com.bd that Bangladesh and India will form a company with joint initiative, which will comprise 4 board members from each side.

The chairman and the managing director will be selected from among the board of directors to three-year tenure.

BDST 2030 HRS, AUGUST 30, 2010.