Economy
Rooppur NPP won’t get fuel supply until all necessary inspections completed
Atomstroyexport, the Russian contractor for the Rooppur Nuclear Power Project, has announced that it will not supply fuel to the plant until all necessary inspections and scheduled procedures are completed, emphasizing the importance of meeting international safety standards. Alexey Deriy, Vice President of Atomstroyexport and Director of the Rooppur NPP Construction Project, highlighted that the delivery of nuclear fuel is a complex process involving multiple levels of scrutiny.
A press release from Rosatom, the Russian contractor, stated that an acceptance inspection will soon take place in Novosibirsk, Russia. The inspection will ensure that all required inspections and procedures are carried out before fuel is shipped and delivered to the Rooppur NPP. This commitment to meticulous inspections underscores the priority given to safety and adherence to international standards.
Recently, the Bangladesh Atomic Energy Regulatory Authority (BAERA) granted Class B, D, and E licenses to the Bangladesh Atomic Energy Commission (BAEC) for handling, storage, and transportation of nuclear fuel for the Rooppur Nuclear Power Plant. The Class B license permits the purchase, ownership, handling, and storage of nuclear materials, the Class D license allows a Russian transport company to transport nuclear materials, and the Class E license provides authority for the importation of nuclear materials.
A formal ceremony was held in Pabna to mark the handing over of the licenses, with key attendees including Yeafesh Osman, Minister for Science and Technology; Ziaul Hasan, Sr. Secretary of the Ministry of Science and Technology; Engr. Md. Muzammel Haque, Chairman of BAERA; Alexey Ferapontov, Deputy Head of the Federal Service for Environmental, Technological, and Nuclear Supervision (Rostekhnadzor) from Russia; Andrei Petrov, First Deputy Director General for Nuclear Power of the Rosatom State Corporation; and President of ASE.
The Rooppur Nuclear Power Project, which features two VVER-1200 reactors with a combined capacity of 2400 MW, is being constructed based on Russian design. The VVER 1200 reactors are classified as evolutionary generation III+ and fully comply with international safety requirements. The Engineering Division of Rosatom State Corporation serves as the General Contractor for the project.
Initially undertaken in 2010, the Rooppur Nuclear Power Plant project, comprising two units, had set a target to complete the construction of the first unit in 2022 and the second unit in 2023. However, the target was later revised, with the first unit now expected to be completed by June 2024 and the second unit by June 2025, reflecting the evolving nature of the project’s timeline.
The delay in fuel supply to the Rooppur Nuclear Power Project highlights the significance placed on thorough inspections and adherence to international safety standards. The Russian contractor’s commitment to ensuring the plant’s safety and operational readiness underscores the dedication to delivering a secure and reliable source of nuclear power for Bangladesh’s energy needs.
During the eleventh month of the current fiscal year, the country’s foreign currency reserves have fallen below $19 billion for the first time. After paying off some import bills, the reserves have now stood at $18.26 billion on Sunday.
According to the International Monetary Fund (IMF), as of May 8, the total foreign currency reserves of the country were $19.82 billion.
Mohammad Mezbauul Haque, the spokesperson of Bangladesh Bank, informed that through the Asian Clearing Union (ACU), the central bank has paid off import bills totaling $1.63 billion over the past two months.
However, Bangladesh Bank maintains that after paying off the import bills, the foreign currency reserves now stand at $23.71 billion.
According to the Central Bank’s accounts, the reserves were $25.27 billion on May 8.
The Dhaka Stock Exchange (DSE) and the DSE Brokers Association (DBA) have expressed gratitude towards Prime Minister Sheikh Hasina for her directive to list government companies in the capital market, a move hailed as timely and positive.
The directive was issued during the recent meeting of the Executive Committee of the National Economic Council (Ecnec) last Thursday.
Dr. Hafiz Muhammad Hasan Babu, Chairman of DSE, described the directive as a significant step towards enhancing the dynamics of the capital market. He emphasized that besides invigorating the capital market, this move would also attract foreign investment and promote sustainable development.
Despite previous efforts, government institutions had not been listed in the stock exchange, according to a notification issued by the DSE. The Prime Minister’s directive is seen as a pivotal step towards revitalizing and expanding the economy.
Dr. Babu further remarked, “The listing of reputable companies in the capital market, as directed by the Prime Minister, will greatly benefit the country’s economy. It will also enhance investor confidence.”
Similarly, the DBA released a notification applauding the Prime Minister’s directive, terming it as positive and timely for the capital market.
Saiful Islam, President of DBA, expressed optimism about the directive’s potential to accelerate the country’s capital market and overall economy. He pledged support to relevant government departments and regulatory bodies in implementing the directive, ensuring its positive impact on the economy, including the capital market.
India has expressed interest in financing Bangladesh’s Teesta project, announced Foreign Minister Hasan Mahmud. Speaking to reporters after a meeting with Indian Foreign Secretary Vinay Mohan Kwatra, Mahmud stressed the importance of aligning the project with Bangladesh’s needs. He confirmed discussions on the Teesta issue during the meeting. Mahmud also affirmed Prime Minister Sheikh Hasina’s upcoming visit to New Delhi, indicating that the finalization of the date would depend on the formation of the new Indian government following ongoing elections.
Meanwhile, the IMF has approved a $1.15 billion staff-level loan for Bangladesh in its third tranche. Mahmud noted the ongoing elections in India and the subsequent formation of the new government as factors influencing the scheduling of PM Hasina’s visit.
When asked about the sequence of visits to India and China, Mahmud suggested Delhi’s geographical proximity to Bangladesh. Diplomatic sources suggest PM Hasina’s visit to India is planned for early July, following India’s elections.
Pre-election surveys indicate strong prospects for Indian Prime Minister Narendra Modi’s re-election. Modi previously congratulated PM Hasina on her electoral victory in January, expressing optimism about strengthening ties between the two nations.
The last bilateral engagement between the prime ministers occurred during the G-20 Leaders Summit in September 2023. Modi is expected to invite South Asian and BIMSTEC leaders to his swearing-in ceremony, fostering regional cooperation.
Addressing border killings, Mahmud emphasized the government’s commitment to ending such incidents and promoting the use of non-lethal weapons by border forces. Discussions also covered enhancing physical and people-to-people connectivity, including cooperation with India to import hydropower from Nepal and Bhutan through India. Mahmud highlighted the need to further ease visa restrictions to strengthen people-to-people relations.
