Egypt gets $25 billion loan from Russia for nuclear plant http://www.theprovince.com/business/egypt+gets+billion+loan+from+russia+nuclear+plant/11930248/story.html BY THE ASSOCIATED PRESS MAY 19, 2016 CAIRO – Egypt has announced a $25 billion loan from Russia for the building of a nuclear power plant.
Thursday’s announcement came in a decree by President Abdel-Fattah el-Sissi. The Russian loan will cover 85 per cent of the expenses of the plant’s construction.
Egypt, which will cover the other 15 per cent, is to repay the loan over a 22-year period, starting in 2029, with a 3 per cent annual interest rate.
Egypt and Russia agreed in February 2015 to build the plant together and signed a memorandum of understanding on the project. But the relations between the two nations were badly impacted after the horrific Russian passenger plane crash in Sinai last October, when all 224 people on board were killed.
Egypt’s economy has plummeted amid a slump in the tourism sector.
Negotiations over establishment of Dabaa nuclear plant ongoing: Minister of Electricity, Daily News, Egypt, 21 Feb 16 Egyptian minister of Electricity and Renewable Energy, Mohamed Shaker, said the ministry is still negotiating with Russia’s Rosatom over technical, financial, and technological agreements to establish the first Egyptian nuclear power plant in the Dabaa area.
He told Daily News Egypt the Russian offer has better features than other offers from French, Chinese, and Korean companies. The offer includes providing nuclear fuel supply to the nuclear power plant throughout its operating period, which is estimated to be 60 years. In addition, it will be responsible for the management of spent nuclear fuel, operation and maintenance, and training human resources……http://www.dailynewsegypt.com/2016/02/21/negotiations-over-establishment-of-dabaa-nuclear-plant-ongoing-minister-of-electricity/
Moscow, Cairo to Discuss Construction of Nuclear Power Plant on January 31, Sputnik News, 8 Dec 15 Egyptian Ambassador to Russia Mohamed Badri said that Russia and Egypt will discuss the construction of a nuclear power plant within the framework of the Russia-Egypt intergovernmental committee on January 31……
On November 19, Moscow and Cairo signed an intergovernmental deal on the construction of a nuclear power plant in Egypt.
According to the Russian state nuclear corporation Rosatom, the plant will take around 10 years to build and will be in operation for around 80 years…….. http://sputniknews.com/business/20151208/1031425665/russia-egypt-nuclear-power.html#ixzz3tldVDvoI
President Abdel Fattah al-Sisi signed a nuclear power plant deal with Russia Thursday, just days after the Kremlin’s unilateral announcement that the Russian charter flight which blew up over Sinai late October was downed by an act of terrorism…….
The deal, which has been under negotiation for months, was signed days after Russia vowed to avenge the terrorist bombing of a Russian airliner killing all 224 passengers and crew on board, the majority of whom were Russian holidaymakers visiting the resort city of Sharm el-Sheikh and heading to St. Petersburg.
Since the crash, Egypt has made no conclusive statements on the results of the Egypt-led international investigation, agreeing only that the jet broke up midair after abruptly disappearing from the radar 23 minutes from takeoff.
Egyptian officials said on separate occasions that it is too early to jump to conclusions and that no criminal evidence can be established so far.
Russia, on the other hand, announced days before signing the nuclear deal with Egypt that the crash was a terrorist act. Days after the crash, Russia had halted all flights to Egypt and banned the national carrier EgyptAir from flying to Russia, apparently based on information passed on by the UK which was not shared with Egypt, according to Egyptian officials…….
Russia announced Thursday that it has evacuated 90,000 of its citizens from Egypt, with the remaining 2,500 to leave by November 30………Egypt’s lax airport security has come under heavy scrutiny since the incident amid news reports that small bribes by travellers are enough to help them bypass queues and luggage scanners…….http://allafrica.com/stories/201511201808.html
Egypt, Russia sign deal to build a nuclear power plant Reuters, 19 Nov 15 CAIRO Moscow and Cairo signed an agreement on Thursday 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.
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.reuters.com/article/2015/11/19/us-nuclear-russia-egypt-idUSKCN0T81YY20151119#BuK0P0P54h5xD8LD.97
Russia to help Egypt build ‘a whole new nuclear power industry’ – Putin, Rt.com February 10, 2015 Russia will contribute to building “a whole new nuclear power industry” in Egypt, President Vladimir Putin has announced as the two countries have signed a number of agreements after a meeting in Cairo.
Officials from Egypt and Russia have signed agreements to boost economic and industrial ties during Putin’s visit to Cairo. The two countries plan to build a nuclear power station, Egypt’s President El-Sissi says. Russia’s president, Vladimir Putin, wrapped up his two-day visit with Egyptian counterpart Abdel-Fattah el-Sissi in Cairo on Tuesday, after both countries signed a memorandum of understanding to build Egypt’s first nuclear power plant together. The power plant is expected to be made with the latest technology and have four separate blocks providing 1200 megawatts of energy each, according to Sergey Kirienko, the director general of the Russian atomic energy corporation Rosatom.
President Putin stressed that “if definite decisions are made, it would not be simply about building a nuclear power plant, but about creating a whole new nuclear industry in Egypt.”
He also stressed that Moscow had only signed a memorandum of understanding on the construction, meaning that the deal had not yet been finalized…….http://www.dw.de/cairo-and-kremlin-agree-on-building-a-nuclear-power-plant/a-18248404
Huge interest in Egyptian renewable energy tender
05. JANUARY 2015 | GLOBAL PV MARKETS, APPLICATIONS & INSTALLATIONS | BY: JONATHAN GIFFORD
The chairman of Egypt’s New and Renewable Energy Authority (NREA) has revealed that 67 companies have been selected to take part in developing 4.3 GW of renewable energy projects in the country. The successful companies were chosen from 177 applicants. http://www.pv-magazine.com/news/details/beitrag/huge-interest-in-egyptian-renewable-energy-tender_100017661/#ixzz3OAPGU0b4
Solar twice oversubscribed in Middle East’s first GW-scale tender http://www.pv-tech.org/news/solar_twice_over_subscribed_in_middle_easts_first_gw_scale_tender 5 Jan 15 Egypt’s recent renewable energy tender was twice oversubscribed for solar projects, it has been revealed.
The Egyptian government is expected to reveal the full list of pre-approved projects in the region’s first gigawatt-scale tender later today.
The law firm Eversheds hosted an event in December with the chairman of Egypt’s New and Renewable Energy Authority and the managing director of the electricity regulator, EgyptERA. The subject of the country’s 4.3GW feed-in tariff programme was raised. The scheme includes 2GW of large-scale solar, 300MW of PV projects under 500kW and 2GW of wind.
Michelle T Davies, head of Eversheds’ clean energy and sustainability group, spoke to PV Tech after the event: “They explained more about the programme during that day. They had 178 projects apply for the FiT and they have pre-qualified 67. Forty of those are solar. The rest are wind.
“Solar was more than double subscribed and wind was 56% subscribed. So the wind tender will go out again,” she said, adding that the first power purchase agreements are likely to be awarded in the first half of 2015.
PV plants between 500kW and 20MW will receive a rate of US$0.136/kWh. Project between 20 and 50MW will be offered US$0.1434/kWh. Contracts will be offered for a 25-year term.
Egypt Calls for Ban On Fissile Material Production for Nuclear Weapons http://allafrica.com/stories/201409120325.html Permanent Representative of Egypt to the United Nations at Geneva Amr Ahmed Ramadan called on Wednesday 10/9/2014 for an international convention to ban the production of fissile materials used in nuclear weapons.
Ramadan made the remarks during the closing session of the Conference on Disarmament (CD), 2014 held in Geneva.
A suggested agreement will lead to prevention of nuclear weapons production, the diplomat said.
Also, Ramadan urged to keep the outer space away from armed conflict, reiterating the importance of giving guarantees by the nuclear States not to threaten other non-nuclear countries.
In his speech, Ramadan reviewed a number of effects of the proliferation of nuclear weapons on humanity, citing the results of Humanitarian Impact of Nuclear Weapons conferences in Oslo, March 2013 and in Nayarit, February 2014.
Nuclear plant tender to launch by year’s end; winning country to finance project: El-Osery, Daily News Egypt Sara Aggour / July 20, 2014 Egypt is to launch a global tender for its first Dabaa nuclear plant by the end of 2014, said Ibrahim El-Osery, the Ministry of Electricity’s adviser for nuclear energy
Speaking to the Daily News Egypt, El-Osery said the plant will be located in the Matruh governorate, with Egypt paying for the implementation expenses after operations start.
“One of the tender’s conditions is that whoever wins will take the responsibility of financing the project till its implementation,” said El-Osery……..http://www.dailynewsegypt.com/2014/07/20/nuclear-plant-tender-launch-years-end-winning-country-finance-project-el-osery/
Egypt ramps up its nuclear options By Raymond Stock January 09, 2014 FoxNews.com “……..America’s slighted ally Egypt is now possibly pursuing its own nuclear option, amid fears of an atomic arms race between Tehran and its regional Sunni rivals in Cairo, Riyadh and beyond.
And no one seems to be paying attention.
Egypt’s traditionally close relations with the U.S. have been severely strained since Minister of Defense General Abdel-Fattah al-Sisi ousted the narrowly-elected President Mohamed Morsi after more than thirty million marched against him and the rule of the Muslim Brotherhood (MB), to which he belongs…….
Egypt’s 60-year-old nuclear program is already the third largest in the region, after those of Israel and Iran.
On November 26, the respected Middle East news site Al-Monitor reported that Egypt expects to generate $4 billion in grants from interested international companies to finance the project.
Morsi, whom al-Sisi appointed Mansour to replace pending new elections next year, had earlier approved a similar plan, even obtaining a pledge of Russian “research assistance” for Egypt’s nuclear expansion, as well as help in exploiting the nation’s previously unknown major deposits of uranium…….http://www.foxnews.com/opinion/2014/01/09/as-obama-dithers-egypt-ramps-up-its-nuclear-options/
Egypt moves ahead with nuclear plant to address electricity crisis ALMONITOR, Egypt Pulse Ayah Aman 29 Nov 13, CAIRO — The Egyptian government is taking new steps to implement its ambitious program to use nuclear energy for the generation of electricity. This comes after the project had been halted due to security, political and economic reasons as well as popular opposition…….
A source at the EAEA told Al-Monitor that the government expected to receive offers from 30 international companies for the execution of the project. The actual competition has been limited to 10 companies from six countries: Russia, China, Japan, South Korea, the United States and France…….
“The government will meet the $4 billion financing through grants from companies that it will pay back in installments,” the same source clarified. “However, the Egyptian government has yet to receive any offers for financing or assistance.” He brushed off criticism that external financing constituted a violation of sovereignty, “as it is the only option available to expedite the completion of the project.”
A delegation from the international consulting firm WorleyParsons visited Cairo in early November and met with experts on nuclear safety……… The Supreme Council of Energy is scheduled to hold a meeting next week, chaired by Mansour, to discuss the nuclear dossier and review the steps being considered to hold the tender to build nuclear power plants. Continue reading
Egypt proposes nuclear-free Mideast Sky News Sunday September 29, 2013 Egypt has proposed for the Middle East, including Israel, to rid itself of all weapons of mass destruction after the UN Security Council ordered Syria to destroy its chemical arsenal. Addressing the UN General Assembly, Foreign Minister Nabil Fahmy on Saturday called on the five permanent members of the Security Council to support the idea of a Middle East free of nuclear, biological and chemical weapons.
Fahmy, part of Egypt’s army-installed government, proposed that all nations in the Middle East would then commit by the end of the year to ratify agreements against weapons of mass destruction……..http://www.skynews.com.au/world/article.aspx?id=910396
Egypt Walks Out Of Nuclear Talks In Geneva, Huffington Post, By JOHN HEILPRIN 04/29/13 GENEVA — Egypt walked out of a round of global
nuclear talks in protest Monday, saying other nations are not acting quickly
enough to establish the Middle East as a zone free of nuclear weapons.
A statement from Egypt’s foreign ministry said the nation ended its
participation in two weeks of Geneva talks out of frustration that the zone
has yet to be created. The talks run through this week.
“We can’t wait forever for the implementation of this decision,” said the
ministry’s statement Monday night, explaining that Egypt’s walkout was meant
to send a message to the world that it can no longer accept what it
considers to be a lack of seriousness on the issue….. At the 1995 review,
nations adopted the goal of a nuclear-free Middle East, in a concession by
the U.S. and others to the Arabs, who wanted Israel to join the treaty and
to give up its unacknowledged arsenal of nuclear weapons. In exchange, the
Arabs backed the treaty’s permanent extension.
But after 15 years of inaction on a nuclear-free zone, Egypt proposed that
the 2010 conference endorse launching negotiations to establish one. With no
talks started, Egypt said Monday that some other members of the treaty – and
non-members – are “obstructing” the goal. Though it did not specify, the
reference to non-members was seen as implying Israel.
Ahead of the Geneva talks to prevent the spread of nuclear arms, the U.N.
Security Council’s five major powers – Britain, China, France, Russia and
the United States – had again called for progress in establishing a
nuclear-free Middle East.
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