Bangladesh-India Friendship Power Company (BIFPCL), a joint venture between BPDB of Bangladesh and NTPC Ltd of India, has signed an engineering, procurement and construction contract to appoint Bharat Heavy Electricals Ltd for the construction of the 2x660 MW Maitree Super Thermal Power Project in Bangladesh.
BIFPCL has selected BHEL through an international open bidding process, the company said in a statement.
The contract value is $1.49 billion and will be financed by the Exim Bank of India. The plant is expected to start generation by 2019-20.
"The Maitree Super Thermal Power Project is the first such project being developed by BIFPCL and is one of the fast track projects identified by the Government of Bangladesh," the companies added in a statement.