Bangladesh and India on Monday signed a memorandum of understanding (MoU) for setting up a 1,320 megawatt coal-fired power plant in Khulna and cooperation in developing renewable energy.
Under the MoU signed by Chief Engineer (generation) of Bangladesh Power Development Board Abul Kashem and AK Sharma, general manager of Indian National Thermal Power Company (NTPC), the joint venture will be managed by an 8-member broad of directors with Bangladesh as its chairman for the first eight years before switching over to a rational system.
Bangladesh and India will have an equal number of nominees -- four each -- in the board.
The NTPC representative however will be the managing director of the joint-venture company, according to the MoU.
Thereafter, the two countries will by ration hold the posts of chairman and managing director for a period of three years.
The agreement also envisaged Indian assistance to Bangladesh in power generation and transmission, energy efficiency as well as development of renewable energy, consultancy, research and development of human recourses in power sector and enhancement of productivity.
The MoU is the outcome of a follow up of several initial agreements reached during Prime Minister Sheikh Hasina's visit to India back in January.
Source: thedailystar.net
