Larsen and Toubro (L&T) has secured a $200m contract from Bangladesh Power Development Board (BPDB) to set up a 225MW gas-based power plant in Bangladesh.
The gas-based power plant will be established at Sikalbaha in Chittagong.
BPDB secretary Mohd Zahirul Haque and L&T vice-president Saurabh Indwar signed the deal in Dhaka on 24 August.
L&T were informed they had secured the contract from BPDB in May this year.
The financing for the project will come from four development partners of the Government of Bangladesh from the Middle-East - Saudi Arabia, Kuwait, the UAE and the OPEC Fund.
The partners will offer a fund of $167m for the project.
L&T will be involved in the design, detailed engineering, supply, installation and commissioning of the power plant on a turnkey basis.
The plant integration and detailed engineering will be carried out by L&T-Sargent and Lundy, which is a subsidiary of L&T.
This is the second contract won by L&T in Bangladesh - the first being a $280m deal for the 360MW Bheramara combined cycle power plant.
L&T power, minerals and metals director Shailendra Roy said: "The company has contributed enormously in building India's infrastructure by implementing landmark projects with international quality and environment, health and safety standards.
"L&T will carry the same spirit to Bangladesh and will also contribute to Bangladesh's growth story."
Bangladesh Power Secretary Monowar Islam said that he was impressed with the overall capabilities of L&T, and delighted that the firm will execute the Sikalbaha project.