Earlier, a same amount of fund was released for the first nuclear power plant project in Bangladesh to back up bank guarantee to the Russian joint stock company Atomstroyexport.
For the current fiscal year, the government allocated Tk618 crore for construction of the nuclear plant (first phase). Of them, only Tk128.56 crore was so far disbursed and only Tk3 crore or 0.49% of the disbursed was spent.
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 the rest of the cost will be managed from local sources.
In April this year, Executive Committee of the National Economic Council (Ecnec) approved the construction of the plant involving a cost of Tk5,242 crore, of which Tk4,000 crore would be provided by Russia as state credit.
Science and Technology Minister Yeafesh Osman said: “We need Tk800 crore government fund released to get the Russian fund. Without this amount, Russia will not release the fund.”
Bangladesh plans to produce 1,000 megawatt of electricity by June 2017 and another 1,000 megawatt by 2022 from the nuclear plant.
The duration of the plant would be 60 years, with an option to extend by another 20 years. In November 2011, the two countries signed a memorandum of understanding and a 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.