Dhaka, Bangladesh (BBN)-Bangladesh and China today signed a memorandum of understanding (MOU) to set up a 1,320 megawatt coal-based power plant in Maheshkhali upazila of Cox's Bazar.
Under the deal, a joint venture company will be formed to complete the project by 2019.
Bangladesh Power Development Board Chairman Md Abduhu Ruhullah and China Huadian Hong Kong Compnay Limited President Zhiao Long Jun have signed the deal at Bidyut Bhaban in Dhaka.
Project cost will be finalised during feasibility study.
Bangladesh and China will finance 30 percent of total project cost while the rest will be taken as loan from other sources.
The power plant will have two units with equal production and will be based on imported coal.
BBN/SS/AI/29Apr14-4:20pm (BST)