Egypt and Russia are expected to sign a nuclear cooperation agreement by the end of this week, daily newspaper Al Borsa quoted unidentified sources as saying.
Under the agreement, ROSATOM, Russia’s national nuclear corporation, will build a 1,200 megawatt nuclear power plant on an engineering, procurement and construction (EPC) basis, as well as on a finance basis, with the Russian side providing 85 percent of the required financing through a 30-year loan, the sources added.
In February, presidents Vladimir Putin and Abdel Fattah el-Sisi announced they would cooperate in this field at a joint news conference in the Egyptian capital, signing an agreement on collaboration.
The plant will be built at an existing nuclear site in Dabaa, located on the Mediterranean coast west of the port city of Alexandria, where a research reactor has stood for years.
