Russia to loan Bangladesh $11.4 billion for nuclear plant
The project is expected to cost $12.65 billion with the rest of the funding coming from Bangladesh.
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 installments starting from March 15, 2027.
The Rooppur nuclear power plant will be located on the east bank of the Ganges River 160 kilometers from Dhaka, the country’s capital.
It will have two reactors with 1,200 MW capacity each. The first reactor is planned to start in 2022, the second will be open a year later. The lifespan of the reactors is 60 years with an option to extend it by 20 years.
The agreement was signed on December 25 last year by the Bangladesh Atomic Energy Commission (BAEC) and Russia's Rosatom. ■