Bangladesh receives first shipment of uranium fuel from Russia for its $12bn plant

Bangladesh has become the world's 33rd country to produce nuclear power. On Thursday (Oct 5), the South Asian country received the first shipment of uranium fuel for its debut$12.65 billion nuclear plant.

The South Asian country is building the first of two nuclear power plants in collaboration with Russian state-owned atomic company Rosatom. Ninety per cent of the project is financed through a Russian loan repayable within 28 years with a 10-year grace period.

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"Today is a day of pride and joy for the people of Bangladesh," Prime Minister Sheikh Hasina said during a video conference with Russian President Vladimir Putin that the Russian Embassy in Bangladesh called a "nuclear fuel delivery ceremony" in a Facebook post.

Putin also thanked the International Atomic Energy Agency (IAEA) for its cooperation and supervising the project, which came after a bilateral agreement in 2011.

IAEA head Rafael Grossi posted his congratulations on social media.

“Bangladesh stands as a success story for newcomer countries in nuclear power development, advancing its program under the [IAEA’s] guidance,” he said.

Pressure from US

Hasina's government is under pressure from the US to hold "free and fair" elections due in January, with Washington imposing visa sanctions on some Bangladeshi officials and political party leaders.

Last month Sergei Lavrov, the first Russian foreign minister to visit Bangladesh since its 1971 independence, assured Bangladesh that Moscow was committed to completing the project on time, despite obstacles from Western sanctions over the war in Ukraine.

Work delayed due to COVID-19

Construction has been delayed because of COVID-19 pandemic restrictions and the sanctions.

Due to USsanctions on Moscow, Bangladesh in December denied entry to a Russian ship carrying equipment for the plant.

The first unit of the plant, with a total generation capacity of 2,400 megawatts, was due to start operation in July next year but is facing a setback over loan repayments.

Russia's state news agency TASS reported that the nuclear power plants in Bangladesh are being built with assistance fromthe engineering division of Rosatom, and the plant will have a life cycle of 60 years with the possibility of extending its operations by 20 more years.

Bangladesh has faced its worst electricity crisis since 2013, a Reuters analysis of government data shows, due to erratic weather and difficulty in paying for fuel imports amid declining forex reserves and a weakened currency.

(With inputs from agencies)

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