Monday 02, July 2018 by Jessica Combes

Egypt to start building nuclear plant in next two years

 

Moscow and Cairo signed an agreement in 2015 for Russia to build a nuclear power plant in Egypt

On Sunday Egypt announced that construction of its first nuclear power plant, to be built by Russia, will begin in the next two to two-and-a-half years.

The 4,800 megawatt (MW) capacity plant at Dabaa in the north of the country, aims to be up and running by 2026, a spokesman for the Ministry of Energy and Electricity told Reuters.

In 2015 Moscow and Cairo signed an agreement for Russia to build a nuclear power plant in Egypt, with Russia extending a loan to Egypt to cover the cost of construction. In 2016 Egypt’s official gazette reported that the loan was worth $25 billion and would finance 85 per cent of the value of each work contract, services and equipment shipping. Egypt would fund the remaining 15 per cent, Reuters said.

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