Spanish company Isolux Corsan won a $335-million contract to build a 340-megawatt combined cycle power plant at Siddhirganj in Narayanganj.
A statement of the construction and engineering company yesterday said it will set up the gas-run power plant in the next 30 months.
Isolux Corsan is a widely experienced company in power generation with more than 3,000MW power plants built in different parts of the world, and the Siddhirganj project will be its second in Bangladesh, the statement added.
About four months ago, public power company Electricity Generation Company of Bangladesh Ltd awarded it the $160-million project for constructing a 180MW power station in Khulna.
The Siddhirganj combined cycle power station will transmit energy through a 230kV line to the national grid to ensure greater network reliability.
The existing gas line in the area will supply the required gas to the plant.
While a simple cycle part of a power station is built using gas turbines, combined cycle uses heat generated by the simple cycle unit to produce extra power.
Isolux Corsán has operations in the areas of concessions, energy, construction and industrial services for over 80 years. It operates in 30 countries on four continents including in Saudi Arabia, Jordan, Kuwait, Oman, Qatar, Syria and India.