DHAKA: A deal has been signed between Bangladesh Power Development Board and Indian Company Larsen & Toubro to set up 225-megawatt (dual fuel) power plant at Shikal Baha in the port city Chittagong. 

Power Secretary Manwar Islam, Petrobangla Chairman Dr Hussain Mansur and Larsen & Toubro Limited Vice-president Saurav Kinowar were among others present at the signing ceremony held at Segun Bagicha in the city on Sunday.

Over Tk 1,707 crore will cost to establish the power plant.

The simple cycle operation will be done within 18-month while the compile cycle operation will take 30 months to be finished.

Saudi Fund for Development (SFD), Kuwait, Abu Dhabi and Organization of the Petroleum Exporting Countries (OPEC) are funding the project.

Addressing the function, state minister for power, energy and mineral resources Nasrul Hamid said the bilateral relations between Bangladesh and India are flawless and it is increasing day by day.

He said, “We are moving forward to the way of light from the darkness. Bangladesh has great condition and environment for investment.”

The ruling Awami League lawmaker also said, “Bangladesh is reliable to everyone as it was never proved as defaulter in returning loans. The Gross Domestic Product (GDP) of Bangladesh has continuity.”

BDST: 1750 HRS, AUG 24, 2014