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Bangladesh, Russia ink $12.65 billion Rooppur plant deal

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Staff writer ▼ | January 4, 2016
Bangladesh and Russia have reportedly agreed to invest $12.65 billion in a project to build two 1200 MWe nuclear power units at Rooppur.
Bangladesh nuclear
Energy   Two 1200 MWe nuclear power units
According to Reuters, the agreement was signed by Bangladesh Atomic Energy Commission (BAEC) and Russia's Rosatom.

Kamrul Islam Bhyian, spokesman for Bangladesh's Ministry of Science and Technology, told the news agency that Russia will finance up to 90% of the total cost of the project as credit with an interest rate of Libor plus 1.75%. Bhyian added that Bangladesh will pay off the loan within 28 years with a 10-year grace period.

Work is expected to start at Rooppur early next year. The first unit is to start operations by 2022 and the second by 2023.

Rosatom will maintain the plant for the first year of its commercial operation before handing over to the Bangladesh authorities, and will bear fuel costs for the first year of operation, according to the report.

The foundation stone was laid at the Rooppur site in October 2013 after Russia and Bangladesh signed an initial contract on the construction of the country's first nuclear power plant.