Egypt’s Minister of Electricity and Renewable Energy, Mohammed Shaker, announced on Tuesday that Al-Dabaa’s nuclear power plant program would transfer Russian nuclear technology to modernize Egypt’s industry, thereby boosting Egypt’s participation in various technical and industrial fields.
At the opening session of the second International Forum of Nuclear Industry Suppliers, Shaker said that Egyptian participation in the project would reach 20% for the construction of the first nuclear unit and 35% for the construction of the fourth.
The First Deputy Director-General for Corporate Development and International Business of Rosatom, Kirill Komarov, said that Russia has been transferring the technology of several industries to Egypt since the 1960s, and has trained many Egyptian students in the nuclear field.
Komarov asserted that Russia would construct the plant with the Water-Water energetic reactors (VVER-1200), and provide training for the program’s Egyptian staff.
The Director of Roastom’s Atomstroyexport in Egypt, Anatoli Kovtunov, said that “We need a project to be proud of like the High Dam.”
Moscow and Cairo signed an agreement in November 2015 to build the Dabaa Nuclear Power Plant, which is expected to be completed by 2022.
Russia has funded Egypt a US$25 billion loan to construct and operate the plant. Egypt will pay an interest rate of three per cent annually. Instalment payments will begin on October 2029.
The number of workers at the plant could exceed 10,000, and the expected invested cost for the country will stand at $25 billion.
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