The construction cost of the Rooppur Nuclear Power Plant has increased by nearly Tk 26,000 crore in local currency terms due to the sharp rise in the US dollar. However, there has been no increase in the project cost in dollar terms. The total project cost has now reached Tk 1,38,686 crore.

Alongside the cost revision, the project timeline has also been extended. The project was initially scheduled to be completed in December last year, but the deadline has now been pushed back to June 2028.

The revised project proposal was approved on Sunday at a meeting of the Executive Committee of the National Economic Council (ECNEC). The meeting was held at the NEC Conference Centre in Sher-e-Bangla Nagar and was chaired by Chief Adviser Professor Muhammad Yunus.

After the meeting, Planning Adviser Wahiduddin Mahmud told reporters that the project is being implemented with a Russian loan. He explained that while the project cost remains unchanged in dollars, it has increased in taka due to the depreciation of the local currency since 2015. He added that complications in repaying Russian loans are not Bangladesh’s fault, and that factors such as COVID-19 and other issues, along with Russia’s own considerations, led to the extension of the project deadline.

Officials at the briefing said Russia is providing $11.98 billion in loans for the Rooppur project. When the loan agreement was signed in 2015, the exchange rate was Tk 80 per dollar, which has now risen to Tk 122, an increase of Tk 42 per dollar. As a result, the taka value of the project has risen, even though the dollar amount remains unchanged.

According to the Planning Ministry, the value of the Russian loan has increased by Tk 25,759 crore in local currency terms, bringing the total Russian-funded portion to Tk 1,16,799 crore. At the same time, the contribution from domestic sources has been reduced by Tk 166 crore and now stands at Tk 21,866 crore.

Funding may be halted for delayed projects

The Planning Adviser also warned that fund disbursement will be stopped for projects that are supposed to be completed by June or December if they fail to meet deadlines. He said letters conveying this decision will soon be sent to the relevant ministries.

He further mentioned that ECNEC has approved a project to build a modern hospital in Nilphamari, which is expected to attract patients from neighboring countries, as nearby regions lack quality healthcare facilities.

Possibly the last ECNEC meeting before the election

Wahiduddin Mahmud hinted that this could be the final ECNEC meeting before the election. He noted that political governments usually approve many projects ahead of elections, but said this government is not following that approach. He explained that the unusually high number of projects approved at this meeting was due to the cancellation of two earlier scheduled meetings. He added that holding another ECNEC meeting before the election is under review, though it may be held if national needs require it.

25 projects approved

In total, 25 projects were approved at the meeting, with an estimated cost of Tk 45,191 crore. Of this amount, Tk 10,881 crore will come from government funds, Tk 32,018 crore from foreign assistance, and Tk 2,291 crore from the implementing agencies.