Egypt, Russia finalize 4 Dabaa contracts

CAIRO – 7 August 2017: Egypt and Russia finished negotiating terms of Dabaa nuclear plant contracts, Minister of Electricity Mohamed Shaker said.

“The contracts, which include four agreements, will be ready for implementation after the State Council and the Supreme Administrative Court finish reviewing them,” Shaker said in a Sunday statement.

In July, Shaker stated that four contracts of Dabaa nuclear power station were signed in initials, two of them were revised by the State Council and the other two are still in the pipeline.

Minister of Investment Sahar Nasr signed Sunday a cooperation agreement with Shaker to clear land plots of Dabaa nuclear project.

Nasr said in a statement that the LE 2 million ($112,556) agreement is to clear 11,000 feddans of land of mines.

Egypt and Russia reached an intergovernmental agreement on November 19, 2015 that granted the construction of Dabaa nuclear power plant using Russian technologies and backed by a $25 billion loan from Russia.

The nuclear power plant, to be developed by Russian state-owned firm Rosatom, will consist of four units generating 1200 MW. Egypt hopes that the launch of the first nuclear power plant will take place in 2024.