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Govt disburses Tk400cr for Rooppur Nuclear Plant

  • Published at 10:08 am December 27th, 2016
  • Last updated at 09:52 pm December 27th, 2016
Govt disburses Tk400cr for Rooppur Nuclear Plant
The state exchequer has released another $50m (Tk400 crore) for construction of the main phase of the Rooppur Nuclear Power Plant, after the project was approved by the Executive Committee of National Economic Council (Ecnec), officials said. In a letter on Tuesday, the Finance Division directed the Ministry of Science and Technology to disburse the funds. Finance Minister AMA Muhith sought a report from the concerned authorities for unnecessary allocation of the funds, as the cost for constructing Bangladesh’s first nuclear power plant has skyrocketed. Cost of the project has risen to $12.6bn from $3bn in the last two years, due to use of the state-of-the-art technology available, according to earlier media reports. He sought the report after the Tk400cr fund was approved in the last week of November. The government had made the first disbursement of Tk400cr in September to back up a bank guarantee given to the Russian joint –stock company Atomstroyexport, a Russian state-owned nuclear power equipment and service export entity. According to sources, Ministry of Science and Technology strong-armed the Finance Division to disburse the first Tk400cr without prior Ecnec approval. Last July, the Russian government approved a credit proposal of $11.38bn for the construction of the Rooppur nuclear power plant.