Parliament this evening passed the Nuclear Power Plant Bill 2015 allowing formation of a company to run the country's first nuclear plant.

Science and Technology Minister Yafes Osman piloted the bill before the House which was passed in voice votes rejecting the amendment motions moved by the opposition lawmakers.

Under the proposed law, Bangladesh Atomic Energy Commission (BAEC) is the owning organisation while a company, 'Nuclear Power Plant Company Bangladesh Limited', will be formed as an operating organisation.

The law proposed forming a board comprising at least seven and highest 12 directors to run the company.

The science and technology ministry secretary will be the chairman of the board.

The head office of the company will be in Dhaka while branch office, if necessary, may be set up elsewhere in the country after taking permission from the board.

Earlier, Bangladesh signed an agreement with Russia for constructing a nuclear power plant at Rooppur in Pabna.

Russia will provide all assistance for setting up the plant, including providing the fuel and taking back the used fuel.

A total of 262 acres of land have been acquired to set up two units with a capacity of 2,000MW.

Each of the two units at Rooppur is expected to cost $1.5 billion to $2 billion. Bangladesh will bear 10 percent of the cost while Russia provides the rest as loan.

The plant will be in operation for 60 years but its life can be extended by another 20 years. It will be built with third generation technology protected by five layers of security.

Bangladesh signed a $500 million deal with Russia for technical research at the country's first nuclear power plant during Prime Minister Sheikh Hasina's Moscow visit earlier this year.

A $265 million tender for the plant's design was approved by the Cabinet Committee and a Russian firm won the bid. Construction of the core structure will start after finalising the design.