A state-run Indian firm is set to sign a contract to build a $1.6 billion power plant in Bangladesh. The firm beat out a Chinese competitor in a commercial fight to secure the deal.
Following several years of negotiations, India’s Bharat Heavy Electricals Ltd (BHEL) will sign a contract to build the 1,320 MW thermal power station.
The Indian government's external lending arm, the Exim Bank, has supported BHEL's offer and will provide 70 per cent funding of the project's costs.
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