L&T signs contract to build Bangladesh power plant.

Larsen & Toubro Ltd. (L&T), India's largest engineering conglomerate, said it has signed a contract to set up a 225 megawatt (MW) gas-based power plant worth $200 million (Rs.1,210 crore) at Sikalbaha in Chittagong, Bangladesh. The company said it had secured the contract from the Bangladesh Power Development Board (BPDB) in May. Four development partners of the government of Bangladesh from the Middle East (Saudi Arabia, Kuwait, UAE and the OPEC Fund) will finance the project with approximately $167 million (Rs.1,010 crore), the statement said. L&T will be involved in design, detailed engineering, supply, installation and commissioning of the power plant on a turnkey basis. L&T-Sargent & Lundy (L&T-S&L), a subsidiary of L&T, will carry out plant integration and detailed engineering. This is the second gas-based power project secured by L&T in Bangladesh. The company plans to expand its reach across Southeast Asia, along with a focus on the Middle East, A.M. Naik, group executive chairman, L&T, had said at the company's annual general meeting.

Livemint