A Bangladesh government spokesman with the Ministry of Science and Technology said that a $12.65 billion deal signed on Christmas Day with Russian nuclear build entity Rosatom cleared the way for a 2016 construction start for two 1,200 megawatt capacity reactors slated for Ruppur (alternate: Roopur) in the Ishwardi district, 100 miles west of Dhaka on a site adjacent to the Padma River.
The expectations include a 28-year loan with a 10-year grace period that will be rated by the London interbank offered rate (Lipor) plus 1.75 percent. The lifespan of the power plant is expected to be 60 years with a possible extension to 80 years. A year after start-ups, slated for 2022 and 2023, Rosatom will hand plant operations over to Bangladesh, according to media reports.
Bangladesh has made several attempts to secure nuclear power in the past. The Ruppur site was originally selected as the home of a nuclear power plant in 1963. On two occasions, in 2005 and 2008, authorities said that China was on board to build two 500 megawatt capacity reactors, but the projects were derailed.
Bangladesh and Russia have laid the groundwork for nuclear power cooperation with agreements signed in 2009, 2010 and 2011.