Nuclear energy is part of the Egyptian government plan to diversify its energy sources to prevent future energy crises caused by the scarcity of electrical energy.
The construction of the first nuclear power plant in Egypt will be initiated within the next two years and undertaken by Russia. The construction of a nuclear power plant is a form of bilateral cooperation between the two countries. In 2015, Egypt and Russia signed an agreement on the construction of a nuclear power plant project in the African country.
The form of cooperation signed by the two countries is the extension of Russia’s loan to Egypt, in an effort to cover the cost of building the nuclear facility, the loan was worth about 25 billion US dollars in 2016.
The Russian-backed loan will support 85 percent development financing, which includes work contracts, services to the delivery of support equipment for the construction of the nuclear power plant. While the Egyptian government only bear the remaining 15 percent of funding.
This nuclear power plant will have a power capacity of 4800 megawatts. According to the plan, this nuclear power plant complex will be built in the Dabaa region located in northern Egypt. The nuclear reactor will have a power capacity of 4800 megawatts, and is targeted to start operating in 2026. The project is expected to absorb no less than 50 thousand workers during the construction phase.
