The North-West Power Generation Company Ltd (NWPGCL) is expecting a joint development agreement (JDA) with Germany's Siemens, China's CMC and US Excelerate Energy for a 3,600-megawatt combined cycle power plant.
The country's largest-ever LNG-based plant will be implemented at Payra in the southern region.
Stakes and responsibilities of the development partners would be spelt out in the JDA to ensure proper execution of the plant, NWPGCL chief executive officer AM Khurshedul Alam told the FE on Sunday.
He said the NWPGCL board of directors has approved the proposed JDA and sent it to power division under power, energy and mineral resources ministry for approval.
The NWPGCL has already acquired land required to implement the LNG (liquefied natural gas) plant project, which would be implemented after establishing a joint venture (JV) company.
Both feasibility and environmental social impact assessment studies over the project have already been completed.
A concept study on the LNG terminal of the project and gas infrastructure has also been completed and a detailed feasibility study is under process.
The power plant will require around 450-million cubic feet per day (mmcfd) of natural gas to generate electricity.
Officials said Siemens AG and the NWPGCL inked a memorandum of understanding in November 2017 to work on the project.
The plant will be executed in three phases along with a regasification terminal and gas pipelines near the under-construction Payra 1320MW thermal plant site.
Around $4.0 billion will be required to implement the project, which is set to court the largest investment from any European country in the power sector here.
The plant might utilise the heat to be generated from the plant for co-generation.
