Egypt to finalise nuclear power plant contracts before year end
Egypt is expecting to finalise contracts for its first nuclear power plant, which will comprise four reactors
Egypt is reportedly aiming to finalise contracts for its first nuclear power plant before the end of 2017.
Making the announcement, Mohamed Shaker, the country’s Electricity Minister, said that the planned plant, which will be developed in Dabaa, will have a capacity of 4,800 MW.
According to UAE state news agency, WAM, Egypt signed an agreement in 2015 for Russia to finance the construction and operation of the nuclear energy plant, with a loan worth $25bn.
The amount would go towards financing 85% of work contracts, services, and equipment shipping, while Egypt would take care of the remaining 85%.
Site visit: Barakah Nuclear Energy Plant, UAE
The plant will comprise four reactors, with the first expected to start producing power in 2024, WAM, citing Ahram Online, reported.