Ecnec okays Tk 5,242cr project

The government on Tuesday approved the first phase of 2,000-megawatt (MW) nuclear power plant project which is scheduled to be completed at Rooppur in Pabna by 2017.

The Executive Committee of National Economic Council (Ecnec) has allotted Tk 5,242 crore to the Bangladesh Atomic Energy Commission for implementing the project.

The approval came at a meeting at the Nec auditorium with Prime Minister Sheikh Hasina in the chair.

Of the amount, Russia will provide Tk 4,000 crore ($500 million) as hard term loan for the first phase but the country is likely to provide around $6 billion for the second phase the tentative implementation schedule of which is 2017 to 2022.

In January this year, Bangladesh signed loan agreements with Russia for $500 million to implement the first phase of the plant.

The IMF in a report this month to the government has expressed its reservation about both cost of the Russian loan and safety of the power plant.

The planning ministry proposal said study and survey on primary safety of the project area has already been completed for getting assistance from the International Atomic Energy Agency (IAEA) and Russian Federation.

The IAEA has been providing necessary technical assistance for developing atomic infrastructure.