Russia and Bangladesh are set to sign a $3bn deal later this year to build two nuclear power plants in Bangladesh.

Russia will build the 1,000MW power plants in Bangladesh’s northern town of Rooppur, reports AFP.

The power plants, which are expected to be complete and ready for operation by 2017, will enable the country to cope with the increasing demand for electricity in response to its economic growth.

Bangladesh received approval from the International Atomic Energy Agency to set up a nuclear power plant in 2007.

According to The International Monetary Fund the country’s economic growth is expected to suffer this year, largely due to the worsening energy crisis.