nuclear-news

Egypt joining IAEA’s Convention on Nuclear Safety, as Russia successfully markets its nuclear industry to Egypt

“……………………… by joining IAEA’s convention on peaceful nuclear safety, Egypt took another step towards implementing its nuclear power programme.

“Egypt has gone a long way towards implementing its first nuclear power plant at El-Dabaa, 320 kilometres northwest of Cairo,” said Awadallah, adding that the plant will have four nuclear reactors that will begin operating between 2028 and 2030.

He noted that these reactors, which generate energy for peaceful purposes, are designed in collaboration with Russia’s state-owned nuclear engineering company, Rosatom, with a capacity of 1.2 GW each.

The construction of the first three reactors has already begun after obtaining approval from the Egyptian Nuclear and Radiological Regulatory Authority (ENRRA).

On 19 November 2015, Egypt and Russia signed an agreement under which Russia will build and finance Egypt’s first nuclear power plant.

The preliminary contracts for constructing the four nuclear reactors were signed, in December 2017, in the presence of Egyptian President Abdel-Fattah El-Sisi and Russian President Vladimir Putin.

The state-owned Rosatom will build the plant and supply Russian nuclear fuel for its entire life cycle.

Russia will finance 85 percent of the cost with a loan of $25 billion, while Egypt will provide the remaining 15 percent in the form of instalments. The Russian loan is repaid over 22 years, with an annual interest of three percent……………………….

The presidential decree on Egypt joining IAEA’s convention on nuclear safety will be submitted for a final vote when Egypt’s parliament – the House of Representatives – reconvenes next Tuesday, 20 June.

June 16, 2023 - Posted by Christina Macpherson | Egypt, marketing, Russia