Energy Bangla

The government is now set to embark on a mission to start talks with Russia about the arrangement of credit for the country’s first-ever nuclear power project.
Prime Minister’s Economic Affairs Adviser Dr. Mashiur Rahman will lead a financial team scheduled to start its visit to Moscow from June 13 for ensuring a credit to the tune of $10-12 billion dollars for installing the Rooppur Nuclear Power Plant (RNPP) in Pabna district on the north-west of Bangladesh.
This is a follow-up to another visit by a high-powered technical committee to Russia last month. The government this time is sending the financial team to seek support of the Russian government to allocate funds required for implementing the RNPP.
“This visit is necessary for ensuring a block allocation from the Russian Federation to implement our dream project, first of its kind in the country,” State Minister for Science and Technology Yeafesh Osman, also a member of the team, told the Daily Observer on Sunday.
Executive Chairman of the Board of Investment (BoI) SA Samad, Principal Secretary to the PM and secretaries from the ministries of power, finance, foreign affairs and law and the Economic Relations Division (ERD), Planning Commission and Chairman of the Bangladesh Atomic Energy Commission (BAEC) are the other members of the team.
Now ROSATOM, the state-owned Russian nuclear power implementing agency, will start designing the reactor for RNPP that requires money. Under the contract with the Russian Federation, it will provide the credit and agree to manage the “spent-fuel.”
“The technical team has finalized all discussions and includes some special safety measures to scale down the chance of hazards including accidents in the nuclear power plant?so the cost of the project has  increased compared to the same other reactors Russia has installed in other countries,” an official said preferring anonymity.
“As the main work is set to start now, our government needs to start the credit talks with Russian government. In line with this the government is sending the team to Russia to ensure the block allocation for Bangladesh from the current fiscal year,” said a senior official of the BAEC.
Earlier the same team visited Russia and agreed that Russia and Bangladesh would invest in this project on a 90: 10 ratio.
According to the Science and Technology Ministry, about 13 people will visit Russia this time but in two phases. On June 13 the Economic Affairs Adviser to the Prime Minister will kick off the dialogue and later another team will visit Russia to set the mode of finance-mobilization to implement 1000-MW RNPP.
The Bangladeshi team negotiated with the acting Russian Finance Minister to finalise the deal.
Moscow financed the technical study of the RNPP. Under the deal Bangladesh would borrow an amount of $569 million with an interest rate of not less than 5 per cent from Russia.
Under the agreement, the Russian government will provide all necessary supports and infrastructure development to build the plant and supply necessary fuel to run the plant and also take back the spent fuel.
The government is going to build two nuclear plants with capacity of 1000-megawatt each at Rooppur with latest ‘third generation’ technology from Russia where five-layer security measures would be installed, according to officials.
Following the signing of the first deal between Bangladesh and Russia, the Public Relations Director of ROSATOM, in a press conference in Dhaka, declared that “about $1.5 billion to $2 billion dollars will be needed to set up 1000-megawatt (MW) power plant depending on security features and technology standards” but now ROSATOM is saying it needs around US$ 10-12 billion.