Once the fund is released, total disbursement fund will stand at Tk800 crore over the past one month and so for the first-ever nuclear plant in Bangladesh.
The finance ministry’s move for allocation more fund came following the proposal made by the Science and Technology Ministry recently for the beginning of main work of the project.
Last week, the government had made the first disbursement of Tk400 crore to back up the bank guarantee to the Russian joint-stock company Atomstroyexport for the fund.
For the current fiscal year, the government allocated Tk618 crore for construction of the nuclear plant. Of which, only Tk128.56 crore was so far disbursed and of the disbursed amount, only Tk3 crore was spent.
Sources in the Science and Technology Ministry admitted the fact that the implementation rate of main work of the plant is poor despite available fund.
According to the Science and Technology Ministry project monitoring committee document, execution rate of the project is only 0.49% from July-September this fiscal year.
Science and Technology Minister Yeafesh Osman told Dhaka Tribune that the implementation rate should not be measured by scale. “It is a big project which will change our life. So in the early stage the implementation rate is slow but still we have enough time as the duration of the project is eight years.”
Regarding giving Tk800 crore to the Russian authority for implementation of Rooppur Power Plant, he said if you want to get 90% of the loan from the Russian government, you should pay that amount of fund.
Earlier, Bangladesh and Russia had signed a financial deal of $11.38bn in Moscow to implement the project. Russia will provide all assistance for setting up the plant, including providing the fuel and taking back the used fuel.
Russia is committed to support 90% of the project cost and rest will be provided from the local sources.
In April this year, Executive Committee of the National Economic Council approved the construction of the plant involving a cost of Tk52.42bn, of which Tk40bn would be provided by Russia as state credit while the rest would come from local resources.
Bangladesh plans to produce 1,000 MW of electricity by June 2017 and another 1,000MW by 2022 from the plant. The tenure of the plant would be 60 years, with options to extend it by another 20 years. In November 2011, the two countries signed a memorandum of understanding and framework agreement.
A total of 262 acres of land have so far been acquired to set up two units with a capacity of 2,000MW.