Egypt Electricity Minister Mohamed Shaker said Tuesday that the Dabaa nuclear power plant contract signing would take place before the end of this year after reviewing all technical aspects pertaining to the plant.
During a press conference at the cabinet building, Shaker said that a ceremony would be organized to celebrate the event.
Sources at the Electricity Ministry told Al-Masry Al-Youm in September that the Egyptian and Russian governments would sign four contracts, first, a principal contract for supplying and installing nuclear reactors; second, a contract for supplying nuclear fuel for the operation of nuclear plants; third, a contract for nuclear waste disposal; and fourth, a contract for organizing the operation of nuclear reactors and maintaining them.
The Dabaa nuclear power plant will include four Generation III nuclear reactors that comply with international security and safety standards, the governmental sources said.
Moscow and Cairo signed an agreement in November 2015 for Russia to build a nuclear power plant in Egypt, with Russia extending a loan to Egypt to cover the cost of construction.
Russia’s state-owned nuclear firm Rosatom said the plant, Egypt’s first, would be built at Dabaa in the north of the country and is expected to be completed by 2022.
Russia will loan Egypt $25 billion to finance the building and operation of the nuclear power plant. Egypt will pay an interest rate of three percent annually. Installment payments will begin on October 15, 2029.
Edited Translation from Al-Masry Al-Youm