The Egyptian Ministry of Electricity is preparing to hold a public announcement of the details of Dabaa nuclear power plant in cooperation with Russia. A source at the Ministry of Electricity said that Minister Mohamed Shaker will review the latest developments in the negotiations with Russia on the plant, Daily News Egypt reported.
Egypt signed an agreement with Russia to establish a nuclear power plant in Dabaa with a capacity of 4,800 MW at a price of $30b. Russia will provide a governmental loan to Egypt worth $25b.
The loan will be used to implement work, services, and shipments of the project. The Egyptian side will pay the remaining amount in the form of installments. The term of the loan is 13 years from 2016 until 2028, with a 3% annual interest rate.
President Abdel Fattah Al-Sisi said in previous statements that the Dabaa nuclear power plant is a third-generation technology reactor, which is the latest technology available worldwide in this field.