Bangladesh, India Sign $1.5 Billion Power Plant Deal

Posted January 29th, 2012 at 4:45 pm (UTC-5)
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State firms from Bangladesh and India have signed an agreement to build a coal-fired power plant in southern Bangladesh.

The signing ceremony between Bangladesh's Power Development Board and India's National Thermal Power Corp. took place Sunday in the Bangladeshi capital, Dhaka.

The 1,320-megawatt coal-fired power plant will cost approximately $1.5 billion to build.

Bangladesh suffers crippling power shortages as wide as 1,500 megawatts a day. The shortfall is especially severe during the hot summer months, forcing some factories to halt production.