Deputy Minister of Industry and Trade of Russia, Giorgi Kalamanov, said that it is expected to receive a license to build the first nuclear power plant in Egypt, “Dabaa“, with the participation of Russia, in the middle of 2020.
“The construction permit is expected to be received by the middle of 2020, and then it will be possible to move to the phase of “First Stone of the reactor” at the nuclear power plant”, Kalamanov said.
The Egyptian government has signed four agreements with the Russian side to establish the Dabaa nuclear project. The Dabaa plant includes 4 reactors with a total capacity of 4800 MW.
The cost of the nuclear plant is about US$ 25 billion. Russia has granted many facilitations to establish the project, including a repayment period of up to 35 years, including a 12-year grace period. Moscow will provide 85% of the value of the project as a loan from the Russian Ministry of Finance for the Egyptian government to finance the Dabaa project. The loan will be repaid over 22 years and Egypt will provide the remaining 15% of the project value.
