Bangladesh to pay Russia $300 million in yuan for power plant

Bangladesh has agreed to pay Russia about $300 million in yuan currency to settle payment for building a nuclear power plant near the capital city of Dhaka, according to two officials familiar with the matter. 

The payment mechanism was finalized at a meeting last week, the officials said, declining to be identified citing rules, Bloomberg reports.

Russia initially refused to accept the payment in yuan on concerns of potential currency conversion losses and insisted on payments in ruble, the people said.

Rooppur is a nuclear power plant under construction under the Russian NPP-2006 project, located on the eastern bank of the Padma River, 160 km from the Bangladeshi capital Dhaka. The foundation stone for the future plant was laid back in the autumn of 2013.