Japanese trading company Sojitz and Mongolian investment firm Newcom are also involved in the deal with the government under a 25-year power purchase agreement, reports cospp.com.
The combined heat and power plant will have 415MW capacity and a steam output for heating of 587MW.
Construction of the generating station, which will have three circulating fluidised bed boilers that will use efficient pollutant control measures, is scheduled to start next year, with activation set for 2016.
