Egypt Ratified Al Dabaa Contract

Egypt Ratified Al Dabaa Contract

A source from the Egyptian Ministry of Electricity and Renewables has declared that the State Council has ratified the final draft for the country’s first nuclear power plant in Al Dabaa, in association with Russian state nuclear energy corporation, Rosatom, Daily News Egypt reported.

This came as Egyptian President, Abdel Fattah El Sisi, gave the green light to proceed with the project, after meeting with Rosatom’s CEO, Sergey Kiriyenko, in Cairo to discuss the final technical and financial aspects of the project. Contracts are expected to be signed by the beginning of 2017 in the presence of El Sisi, and his Russian counterpart, Vladimir Putin, according to Al Mal News.

The nuclear power plant will have a 4800MW power production capacity and will cost an estimated $25b via Russian loans over 13 years. Local participated in the project’s initial phase is reported at 20%, and is expected to gradually increase across subsequent phases.

Egypt’s new energy mix expands on nuclear energy use, as well as other fossil fuels, which raised concerns among environmentalists. According to the environment minister, the new energy mix is based on 5% of nuclear energy, 15% coal, and 33% renewable energy, in addition to alternative fuels.

Sarah Samir 3289 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


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