India and Bangladesh have agreed to set up a 1320 MW joint venture coal based power project in Bangladesh. This was decided at the meeting of the Joint Steering group of India and Bangladesh on power sector in Dhaka today chaired jointly by the Power secretaries of the two countries.Addressing a joint press conference after the meeting, Bangladesh Power Secretary Abul Kalam Azad said that Power Development Board of Bangladesh and NTPC of India will form the joint venture company with both of them having 50 percent stake in the plant which is likely to cost around 1.74 billion US Dollars and will be set up in three years.In addition to this, India’s Power Grid Corporation and Power Grid Company of Bangladesh will sign a MOU for the setting up of the Interconnector grid to facilitate transfer of 250 MW of power from India to Bangladesh which was agreed to during the visit of Prime Minister Sheikh Hasina to India. Union Power Secretary H.S. Brahma who led the Indian delegation hoped that the connecting grid will be set up in 24 months and it will open a new chapter in co-operation in the power sector between the two countries.It was also agreed that NTPC will help in training of power professionals in Bangladesh in addition to offering consultancy services to improve the operating efficiency of the power plants in Bangladesh.