A 15-member delegation led by Board of Investment Chairman Syed Abdus Samad left for Moscow yesterday to finalise the modalities for a Russian credit for setting up a nuclear power plant in Rooppur of Pabna.
Russia has agreed to finance 85 percent of the project cost at an interest rate of 4.5 percent to be repaid in five years, according to a draft agreement sent to the government recently.
The total cost of the 1,000 megawatt plant has been estimated between Tk 12,000 crore and Tk 15,000 crore.
Moscow said it would make an advance payment of $500 million (around Tk 4,000 crore) for the preparatory works of the project.
Bangladesh will suggest fixing the interest rate at three percent and loan repayment period at 28 years, officials in science and technology ministry said.
During its weeklong visit, the Bangladesh delegation will try to settle the crucial issues through negotiations. It will also seek a cut in the interest rate on the unutilised amount of the credit from one percent to 0.15 percent.
The delegation includes State Minister for Science and Technology Yeafesh Osman, member of Socio-Economic Infrastructure Division Masud Ahmed, Economic Relations Division Secretary Abul Kalam Azad, Science and Technology Secretary Rafiqul Islam, Legislative and Parliamentary Affairs Division Secretary Mohammad Shahidul Haque, chairman of Bangladesh Atomic Energy Commission Abu Sayeed Mohammad Firoz and project director of Rooppur Nuclear Power Plant project Shawkat Akbar.
Earlier the two countries had signed a framework agreement to build the plant for peaceful use of nuclear energy. Moscow also assured Dhaka of providing all kinds of technical support.
The project aims at minimising the gap between demand and supply of electricity through generation of nuclear power within the shortest possible time.