Egypt finalizes deal with Russia for first nuclear plant
Sep 4, 2017
Russian media says Egypt has secured Russian funding to build its first nuclear power plant after nearly two years of negotiations
CAIRO — Russian media say Egypt has finalized a deal to build a nuclear power plant with funding from Moscow after nearly two years of negotiations.
The reports Monday came after Egypt's President Abdel-Fattah el-Sissi met with Russian President Vladimir Putin in China, where they were attending a summit.
The nuclear plant will be built in Dabaa, about 130 kilometers (80 miles) northwest of Cairo on the Mediterranean coast.
Egypt's presidency says el-Sissi has invited Putin to Egypt to mark the start of construction.
In 2015, Egypt signed an agreement with Russia to build a four-reactor power plant. It will receive a $25 billion Russian loan to cover 85 percent of the plant, with a capacity of 4,800 MW.
