Government releases Tk10cr for Rooppur power plant company

The company will operate the 2400-megawatt nuclear power plant to be built in Rooppur, Pabna. Finance Minister AMA Muhith on Sunday signed a summary report on giving the fund as the company’s paid-up capital. According to the summary, the Finance Division disbursed Tk10 crore for the company from the unexpected expenditure management fund in the FY2016-17 budget. The Rooppur plant has been identified as one of the country’s first-track projects. The authorised capital of the company is Tk100 crore, divided into 100m shares and price of each share is Tk100. This is a public limited company by shares. According to a proposal, the company’s board will comprise 11 directors who will be picked from public service. The head office of the company will be in Dhaka and the branch offices, if necessary, will be set up elsewhere in the country after taking permission from the board, according to the company’s rules. CEO and Managing Director of the company is Dr Mohammad Shawkat Akbar who is also the project director of Rooppur Nuclear Power Plant and Science and Technology Secretary is the chairman of the board. Bangladesh and Russia signed a financial deal of $11.38bn in Moscow recently to implement the country’s first-ever nuclear power plant. Russia will provide all assistance for setting up the plant, including providing the fuel and taking back the used fuel. A total of 262 acres of land have been acquired to set up two units with a capacity of 2,400 MW.