Bangladesh today signed two memoranda of understanding (MoUs) with two Indian companies to set up 4,600-megawatt power plants in the country.

The deals worth $5.5 billion were inked between Power Development Board of Bangladesh and Indian companies Adani Power Limited and Reliance Group at the Bidyut Bhaban in Dhaka around 11:30am.

The MoUs were signed when Indian Prime Minister Narendra Modi is paying his maiden trip to Bangladesh.

Adani Power Limited will invest $2.5 billion to set up a coal-based power plant with capacity of 1,600MW power.

The Reliance Group signed the deal to set up an imported Liquefied Natural Gas-based power plant in Bangladesh with capacity of 3,000MW power. The group will invest $3 billion to set up the plant.

The sites for setting up the power plants are yet to be decided.