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According to the deals signed on Monday, the plant will come into operation within one year and distribute electricity to the extended part of Dhaka metropolitan, KPPGL said in a press release.
PDB will buy power generated at the heavy fuel oil-run plant at Tk 6.88 per unit for 15 years.
The project will be set up near the Purbachal New Town on the bank of the River Shitalakkhya under Naryanganj district.
Ishraq Tariq, Managing Director, KPPGL and Mina Masuduzzaman, Secretary, PDB, signed the power purchase deal at the Bidyut Bhaban.
Tariq and Sheikh Faezul Amin, Joint Secretary of the Power Division, signed the agreement on implementing the project.