DHAKA: Bangladesh’s state-run Atomic Energy Commission signed a deal with Russia on Friday to set up two nuclear power plants, each with 1,200 megawatt capacity, an investment totalling $12.65 billion, a government official said. Work will begin early next year at Ruppur in Iswardi, 160 km from Dhaka, said Kamrul

Islam Bhyian, spokesman for the ministry of science and technology. “Russia will finance up to 90 per cent of the total cost as credit with an interest rate of Libor plus 1.75 per cent,” Bhyian said. Bangladesh will clear the total loan within 28 years with a 10-year grace period. Bangladesh Finance Minister Abul Maal Abdul Muhith said it would be the country’s biggest power project.