Egypt will obtain a license to build the Dabaa nuclear plant by mid-2020, the Russian deputy minister of industry and trade said. Georgy Kalamanov added that Russian experts are currently completing designing the nuclear plant and surveying the area where it will be built. In 2015, Russia and Egypt signed a deal which would see Russia build Egypt’s first nuclear power plant in the Dabaa area, located on Egypt’s northwestern coast. Under the terms of the agreement, Cairo would access a loan for the project from Moscow. In 2016, the Egyptian official Gazette reported that the loan would amount to $25 billion, which would finance 85 per cent of the cost of contracts signed for the plant’s construction. The loan repayment period is 35 years. Egypt will finance the remaining 15 per cent.
Middle East Monitor 10th Aug 2018 read more »
