nuclear-news

Sale of nuclear reactors to Egypt entails big debt to Russia

Russia to finance Egypt’s nuclear power plant, Utilities, by Baset Asaba on Nov 22, 2015 Moscow and Cairo signed an agreement for Russia to build a nuclear power plant in Egypt, with Russia extending a loan to Egypt to cover the cost of construction. 

A spokesman for 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 was expected to be completed by 2022, reported Reuters.

Egyptian President Abdel Fattah al-Sisi, speaking on state TV, gave few details but said the project would involve the building of a ‘third-generation’ plant with four reactors.

It is not clear how much the deal is worth but Sisi said the loan from Russia would be paid off over 35 years………http://www.utilities-me.com/article-3882-russia-to-finance-egypts-nuclear-power-plant/

November 23, 2015 - Posted by Christina Macpherson | business and costs, politics international