Bangladesh and Russia will sign a USD 11.38-billion credit deal in Moscow tomorrow to implement the country’s first-ever nuclear power plant at Rooppur in Pabna. A high-profile government delegation has already reached Russia to sign the state export credit deal for the construction of the main phase of the Rooppur plant, said an official with the science and technology ministry. Science and technology minister Yeafesh Osman is heading the delegation, which has a total of five members.
The four other members are MA Mannan MP, state minister for finance, Mezbah Uddin, secretary of the Economic Relations Division (ERD), Abul Mansur Md Faizullah, additional secretary of the ERD, and Anwar Hossain, additional secretary of the science and technology ministry. The Russian government has already approved a deal to lend up to USD 11.38 billion to build the Rooppur nuclear power plant, Russian RT news reported on July 18.
Earlier, on June 27, the Bangladesh Cabinet approved the draft of the inter-governmental state credit agreement, to be signed between Dhaka and Moscow, for constructing the power plant at an estimated cost of USD 12.65 billion, Bangladeshi officials said.
Of this amount, USD 11.38 billion will come from Russia. The rest of the financing will be provided from Bangladesh’s own funds. The loan will be used to pay for the construction of the plant from 2017 to 2024. Bangladesh will repay the money over 20 years in equal semi-annual instalments, starting from March 15, 2027. The Rooppur nuclear power plant is located on the east bank of the Ganges, 160km from the capital. It will have two reactors with a capacity of 1,200 MW each. The first reactor is scheduled to start operations in 2023, while the second will open a year later. The lifespan of the reactors is 60 years—with an option to extend it by 20 years.