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Two high level delegations off to Russia to finalise Rooppur credit deal

To negotiate on export credit deal for construction of Rooppur nuclear power plant, two separate high-profile government delegation is going to Russia on Monday.

Science and Technology Minister Yeafesh Osman told energynewsbd.com that the two delegations are going to Moscow, Russia to finalise the signing of a state credit deal of $11.385 billion with Russia to implement the country’s first-ever nuclear power plant project.

The negotiation meeting will be held on May 18-19, the Minister informed.

One seven member team headed by  Yeafesh Osman, Science and Technology Minister including A K M Mashiur Rahman, Economic Adviser to Prime Minister Sheikh Hasina, Syed Abdus Samad, Executive Chairman of Board of Investment, Md Abul Kalam Azad, Principal Secretary of Prime Minister`s Office, Md Nojibur Rahman, Senior Secretary and Chairman of National Board of Revenue, Mohammad Shaidul Haque, Secretary of Legislative and Parliamentary Affairs Division and Md Serajul Huq Khan, Secretary of Science and Technology  Ministry.

Another twelve member team headed by Abul Masur md Faizullah, Additional secretary of Economic Relations Division includes high officials from different ministries and Bangladesh Atomic Energy Commission official.

It is to be noted that on December 25, 2015, Bangladesh and Russia have signed a general contract for the construction and commissioning of Rooppur Nuclear Power Plant (RNPP) in Pabna, at a cost of $12.65 billion.

As per the deal, to the deal, Russia would provide 90% of the funds on credit at an interest rate of Libor plus 1.75%.

Bangladesh will have to pay back the loan in 28 years with a 10-year grace period.

Talking with energynewsbd.com, RNPP Project Director Mohammad Shawkat Akbar said that they are working in full swing to complete the 2,400MW Nuclear Power Plant (first unit) to go into operation by 2023 and the second unit by 2024.

“We are hopeful of completing the formalities within this year to start building the main infrastructure of the plant from August 2017”, he said.

The Bangladesh Atomic Energy Commission (BAEC), under the Science and Technology Ministry, is going to implement the Rooppur project.

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