Jt venture deal in power sector in March likely

A joint venture agreement between Bangladesh and India for trading electricity is likely to be signed this month, reports BSS. A nine-member high-powered delegation led by Indian Power Secretary Shri P Umashankar is arriving in Dhaka on March 5 to give final touch to the draft of the agreement. To implement the Hasina-Monmohan landmark deal for the development of country's power sector, a joint technical team has been working in both the countries for installing a 1320MW coal - fired power plant and erecting transmission line between the two countries for transferring 500 MW of electricity by the year of 2013. Bangladesh and India inked a memorandum of understanding (MoU) for a joint venture agreement in September last year in New Delhi and later a joint steering committee to oversee the issue was formed. "Indian team comprising technical persons from National Thermal Power Corporation (NTPC) and Power Grid Company Ltd of India (PGCIL) headed by the Power Secretary is arriving Dhaka to complete the final work for establishing a joint venture company (JVC)," PDB Chairman ASM Alamgir Kabir told the news agency. Bangladesh will submit a proposal for importing power from Tripura State and for a Joint Investment plan in the power sector to the steering committee during the meeting, said a highly placed source. A PDB source said it is the 3rd steering committee meeting for establishing the joint venture company (JVC). Earlier, Arup Roy Chowdhury, the CMD of NTPC visited the proposed site for 1320 MW coal-fired power plant in Khulna and discussed the draft of the JVA with his Bangladeshi counterpart.