Egypt's nuclear plant construction to begin in next two years

Published: July 01, 2018 20:19:26 | Updated: July 03, 2018 16:03:40


-Reuters file photo

Egypt will begin the construction of its first nuclear power plant, to be built by Russia, 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 energy and electricity ministry of Egypt said on Sunday, reports Reuters.

Moscow and Cairo signed an agreement in 2015 for Russia to build a nuclear power plant in Egypt, with Russia extending a loan to Egypt to cover the cost of construction.

Egypt’s official gazette said in 2016 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.

 

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