Egypt Daily News – President Vladimir Putin has approved an annex to the agreement signed with Cairo regarding the terms of Egypt’s repayment for the financing of the Dabaa nuclear power plant project, which is being built in Egypt by the Russian company “Rosatom,” using Russian rubles.
According to “Russia Today,” the two parties switched to debt settlement in rubles and signed the necessary governmental protocol in September of last year. On November 19, 2015, Egypt and Russia signed a cooperation agreement to establish the Dabaa nuclear power plant, with an investment cost of $25 billion, provided by Russia as a soft government loan to Cairo.
Dabaa is Egypt’s first nuclear power plant and is being constructed in the city of Dabaa in Matrouh Governorate on the Mediterranean coast, about 300 kilometers northwest of Cairo.
The plant will include four Generation III+ pressurized water reactors with a total capacity of 4,800 megawatts, or 1,200 megawatts each. The first reactor is scheduled to be launched in 2028.
The Russian nuclear energy giant “Rosatom” is building the plant using the world’s best technologies and the highest safety and security standards, as confirmed by the International Atomic Energy Agency. The company has extensive experience in building dozens of nuclear plants in Russia and around the world.
