Allocation for the Rooppur nuclear power plant project is set to be increased by Tk 318 crore in the upcoming revised ADP of FY19 to meet higher spending needs.
Science and Technology ministry, the implementing agency of the mega-project, has placed a proposal at the Planning Commission for increasing the allocation by Tk 318 crore, sources said.In the original ADP allocation, the power plant fetched Tk 11,099 crore for the ongoing 2018-19 fiscal year, which has been proposed to be raised to Tk 11,417 crore.
However, the final allocation under revised ADP (RADP) will get approval in the upcoming meeting of National Economic Council (NEC) due late this month with Prime Minister Sheikh Hasina in the chair.
“The work of Rooppur nuclear power plant is going on in full swing. Now, we’ll be able to spend more than what we’d estimated earlier. So, we’ve sought the additional money,” commented an official of science and technology ministry.
The official added that there is a scope of spending Tk 318 crore more in the project from local money this year.
“We hope that we’ll be able to get the sought additional allocation as the government has attached much importance to the project,” he said.
The government launched the project, which is supposed to install two units of 1,200MW capacity power plant, at an estimated cost of Tk 1,13,093 crore.Russia, which is providing technical and financial assistance to the massive project, has already committed $11.38 billion or 90 per cent of the project financing.
Prime Minister Sheikh Hasina launched the main building phase of the country’s first nuclear plant at Rooppur in Ishwardi, Pabna on November 30 in 2017.
With the progress of the scheme, Bangladesh joined the nuclear nations’ club as the 33rd country to generate 2,400MW nuke power by 2024.
The first 1,200MW unit is expected to come into operation by 2023, while the second one by 2024. The two units will be generating power for the next 60 years.
At present, there are 453 nuclear power plants in 31 countries across the globe with nearly four lakh megawatts of net installed capacity, according to International Atomic Energy Agency (IAEA).
In January 2013, an inter-governmental agreement was signed for a $500 million Russian loan to finance engineering design, site development and personnel training.
In October of that year, Prime Minister Sheikh Hasina laid the foundation stone after 262 acres of land had been acquired to set up two units of the plant.
On December 15, 2015, the government finalized the amount for the biggest-ever investment project in the country’s history by inking another agreement with Russia.
Chinese state-owned company Rosatom will construct the power plant at a cost of $12.65 billion, broken down into $10.1 billion as a base price, $1 billion for soil stabilization and further costs, and $1.65 billion to allow for price escalation.