Work will begin early next year at Ruppur in Iswardi, 160km (100 miles) 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 told Reuters.
The first power plant is expected to begin operating by 2022 and the second by 2023.
The reactor contains improved safety features, and its passive safety system can work for 72 hours in any critical or emergency situation, it said.
Rosatom will maintain the plant for the first year of its commercial operation before handing over to the Bangladesh authorities, and will bear fuel costs for the first year of operation.