Govt considers private-sector participation in nuclear program

The ministries of finance and electricity are reportedly thinking about establishing partnerships with local and foreign private-sector companies for the finance and construction of Egypt's first nuclear power stations, expected to go online within the next five years.

According to Finance Ministry sources, Egyptian law does not ban private-sector participation in projects related to Egyptian national security. This includes local and international private financial institutions, as well as construction companies.

The same sources pointed out that Egypt's nascent nuclear program required a total of US$4 billion worth of funding, which warranted help from the local and international private sector.

Banque Du Caire credit manager Ayman Mokhrat, however, said that banks' credit policies generally did not extend to nuclear projects.

Translated from the Arabic Edition.

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