In the second largest investment after the $1 billion plan by ONGC Videsh in Sudan, India today signed an agreement with the African nation for a $350 million line of credit for setting up a 500 MW power project by Bharat Heavy Electricals (BHEL).The total project cost of about $500 million is being shared by the two countries with Exim Bank of India giving a credit line of $350 million.In addition, the two countries also signed another loan agreement of $41.9 million for the Singa-Gedarif transmission line and sub-station.BHEL will set up the project on a turnkey basis with crude oil-fired boilers. The contracts for equipment would be placed within a month, A K Puri, CMD of BHEL, said today.The government of Sudan plans to expand the project to 3,000 MW. "This would open up more opportunities for BHEL," Sudan government officials said, adding they were keen that Indian companies set up manufacturing base there to tap the African and the Middle-East market.
