Russian contractor seeks speedy bill payment for Rooppur nuke plant

The Russian contractor of the Rooppur Nuclear Power Plant, Atomstroyexport Joint-Stock Company, has requested abolishing the requirement for the Bangladesh Bank's approval of bill vouchers and instead having the scrutiny process conducted by Sonali Bank for paying dues to local contractors.

Additionally, the company has sought the Bangladesh Bank governor's cooperation in streamlining the payment process and eliminating delays in installment payments. As part of this effort, it has requested a meeting with Bangladesh Bank officials.

The requests were made in a letter from AV Kosarev, the head of Atomstroyexport's Bangladesh office, to central bank Governor Abdur Rouf Talukder on 25 July.

Under the current system, Atomstroyexport is obligated to submit work bills, vouchers, and progress reports to the Bangladesh Bank for verification before paying local contractors for their services. Payments are then deposited in dollars into the foreign currency (FC) account of the Russian company held in Sonali Bank. Subsequently, payments are made to local contractors, both in local and foreign currency, through negotiations.

Atomstroyexport wishes to pay all bills of contractors in dollars, according to Bangladesh Bank sources. 

However, stakeholders have observed that an exclusive dollar payment approach may not be feasible given the current economic situation.

Paying Russian entities has turned out to be complex due to United States sanctions on Russian banks, limiting payment options. Even paying in Chinese currency has not been possible. The ongoing foreign exchange crisis further complicates matters, making it challenging to exclusively pay contractors in dollars as desired by Atomstroyexport.

AV Kosarev in his letter to the Bangladesh Bank governor emphasised that the timely implementation of the Rooppur Nuclear Power Plant project is being hampered by delays in local contractors receiving their dues.

The Bangladesh Bank is yet to respond officially to Atomstroyexport's request. 

According to sources, the payment method for local contractors has already been decided. There are also legal issues with this. As a result, a decision will be taken after discussing it with the relevant parties of the government. 

They, however, said that the Rooppur nuclear power plant is a priority project of the government and all parties are sincere about the smooth implementation of the project. 

At present, the Bangladesh Bank plays a crucial role in the payment process, meticulously verifying the bills, vouchers, and work progress reports submitted by Atomstroyexport. Payments to local contractors are withheld until the bank's approval is granted. The Bangladesh Atomic Energy Commission, as the owner of the Rooppur Nuclear Power Plant, is responsible for issuing the necessary work bills and vouchers.

However, according to sources, this verification process takes at least an extra month, causing delays in payments to local contractors.

Nuclear fuel for Rooppur plant to arrive in Sept: Rosatom DG

Meanwhile, nuclear fuel for the Rooppur Nuclear Power Plant will arrive in the country in September, Rosatom Director General Alexey Likhachev on Monday said as he paid a courtesy call on Prime Minister Sheikh Hasina at her official residence Ganabhaban.

"The work of RNPP has progressed, overcoming hundreds of obstacles and nuclear fuel for this plant will reach Bangladesh in September," PM's Press Secretary Ihsanul Karim quoted Likhachev as telling the premier at their meeting.

Briefing reporters after the meeting, Karim said, the Rosatom DG apprised the premier of the overall progress of RNPP and discussed the project.

They also talked about the opening celebration of the RNPP.