NTPC Ltd. announced it expects to sign a joint venture agreement with Bangladesh Power Development Board (PDB) for the 1,320 MW power project in Khulna by the end of January. The project would be a 50:50 joint venture between NTPC and the Bangladesh government. The two organisations had signed a memorandum of understanding in August last year to establish two thermal power projects in Chittagong and Khulna for mitigating power shortages in Bangladesh. The power plants are likely to come up at an investment of around INR 132 billion. The coal-fired power plants are likely to be installed on a 50:50 equity basis to be run on imported coal and operated by the NTPC.