Cairo, Moscow agree on Egypt's first nuclear power plant construction terms
Egypt and Russia have agreed on all the clauses of the commercial contract on construction of the first nuclear power plant in the country, the Egyptian presidential office said in a statement Sunday.
"The minister [of Energy] during the meeting briefed the president on the final version of the contract on Dabaa [nuclear power plant], informing him on the agreement with the Russian side on all terms in question," the statement read.
The date of contract signing is expected to be announced right after its approval by the country's supreme administrative court, the Council of State.
Russia and Egypt signed an intergovernmental agreement on the construction of the Dabaa nuclear power plant on the Mediterranean Sea coast in November 2015. It is set to become the largest construction project carried out by Russia and Egypt since the Aswan Dam.
The contract for the construction of the nuclear power plant is estimated to be worth over $26 billion. The plant will include four units, each one with a capacity reaching 1200 megawatts. The complete offer of the state corporation Rosatom suggests assistance from Russia in the establishment of an entire nuclear industry in Egypt.