Egypt and Russia to Sign Nuclear Agreement

Egypt and Russia to Sign Nuclear Agreement

The Russian Ambassador to Cairo, Sergey Kirpichenko said that Russia and Egypt will sign main contracts for construction of Dabaa Nuclear Power Plant (NPP) in 2017, Tass reported.

“Negotiations on construction of the nuclear power plant have not been completed yet, however, a major step forward was taken in this area in 2016. All grounds exist to expect that main contracts for NPP construction will be indeed signed this year,” Kirpichenko said.

On November 19th, 2015 Russia and Egypt signed an inter-governmental agreement on constructing the first nuclear power plant in El Dabaa, consisting of four power units with 1,200MW capacity each. Under the agreement, Cairo is granted a $25b loan to build the plant,  Russia News Now informed.

The nuclear power plant is expected to be built near the city of El Alamein on Egypt’s northern coast, 3.5 km away from the Mediterranean Sea. The project is planned to be implemented in 12 years.

Russian companies have an opportunity to take part in development of the Zohr natural gas field through a system of tenders, according to Kirpichenko.

Mahinaz El-Baz 317 Posts

Mahinaz El Baz received her MSc degree in Foreign Trade Economics from Helwan University in 2016. She has two years of experience in journalism and four years of experiance in economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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