State-owned North-West Power Generation Company Limited (NWPGCL) signed on Friday a joint development agreement (JDA) with Siemens of Germany to set up a 3600 MW LNG-based power plant in Payra.
Secretary of NWPGCL Dipak Kumar Dhali and President (Gas and Power) Siemens Richard Clayton Reising signed the agreement on behalf of the respective organisations at hotel Westin in Dhaka.
The plant will be located adjacent to the existing 1320 MW coal-fired power plant.
As per the deal, in the first phase a 1200 MW plant will be set up by 2021 while the work on another 2400 MW will be completed in the second phase by 2024.
The project is the largest in the country in terms of capacity and first ever LNG-To-Power Project in Bangladesh.
Power Divison Secretary Dr Ahmad Kaikaus, Bangladesh Power Development Board Chairman Khaled Mahmood, NWPGCL Chief Executive Officer Engineer AM Khurshedul Alam, German Deputy Head of Mission Michael Schultheiss and Siemens Gas to Power President Richard Clayton Reisig spoke at the function.