Construction of Dabaa nuclear plant to start soon: CEO

SourceEgypt Independent
SectorIndustrial
CountryEgypt

The CEO of the Russian state nuclear corporation Rosatom in the Middle East and Africa Alexander Voronkov announced Saturday that the company will start construction of the first nuclear plant in Dabaa soon, adding that the the project will completely change life for the Matrouh governorate and Egypt overall. In his speech during the inauguration of the Nuclear Science Festival, Voronkov noted the importance of technology to high rates of development, which he assured the nuclear industry is working hard on. He added that documentary films have been made showing the impact of projects such as these on ordinary citizens and how their lives have improved, as well as its impact on the economic growth rates of many countries. In December 2018, Russian President Vladimir Putin and Egyptian President Abdel-Fattah al-Sisi signed a contract to begin work on the plant, according to Alexei Likhachev, Chief Executive Officer of Rosatom. The plant is expected to be fully-built by 2022, and Russia has agreed to loan Egypt $25 billion to finance building and operating the plant, with Egypt having agreed to pay an interest rate of 3 percent annually. Installment payments will begin on October 15, 2029. ...read more...