Russia has signed two agreements with Egypt to finance and build its first nuclear power plant at Dabaa on the Mediterranean coast in the northwest of the country.
As per one of the agreement, Russia will extend a loan to Egypt to cover the cost of construction of the nuclear plant which is expected to be completed by 2022.
About the agreement
- Russia will grant a 35-year loan to the Egypt which is the Arab world’s most populous country.
- However in the agreement the loan has been not disclosed as the details of the credit agreement are still under discussion.
- Dabaa Nuclear plant will be third-generation plant with four reactors with total capacity of 1,200 MW.
- On completion the plant will make Egypt a regional leader in terms of civil nuclear technology.