Home Power plant US $190m allocated for Dabaa Nuclear Power Plant project in Egypt

US $190m allocated for Dabaa Nuclear Power Plant project in Egypt

$190m has been allocated by the Russian government for the establishment of the Dabaa nuclear power plant project in Egypt. Deputy Chairman of the Nuclear Energy Authority Abdel Hamid el-Desoky made the announcement and said that an alliance has been formed between Egypt and Russia to develop some part of the project.
The Dabaa Nuclear Power Plant project will be the first nuclear power plant planned for Egypt and will be located at El Dabaa, Matrouh Governorate, which is about 130km northwest of Cairo. The energy project will be constructed by Rosatom in Egypt.
He further added that a feasibility study is being conducted to manufacture parts of the nuclear reactors in Egypt, and pointing out that the domestic manufacturing of nuclear energy will be expanded to reach 35% upon receiving four reactors in 2029.
Upon completion,
The Dabaa power plant will have a capacity of 4800MW. The overall cost of the project is $29bn out of which Russia will finance 85% as a state loan and Egypt will provide the remaining 15% in the form of installments. The Russian loan has a repayment period of 13 years, with an annual interest rate of 3%.
Preliminary contracts for the construction of four VVER-1200 units were signed in the presence of Egyptian President Abdel Fattah el-Sisi and Russian President Vladimir Putin.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Car Insurance Company in Saudi Arabia

SALAMA Comprehensive This is a conventional product. This plan includes GCC cover. This plan includes personal accident cover. There...

how much is car insurance in Dubai

How to Estimate the Cost of Car Insurance in Dubai? There are more than 10 different insurance companies...

Top 10 Best Car Insurance Companies In Dubai – UAE

There are two types of insurance policies: comprehensive insurance which covers losses arising from theft, fire, or accidents, and third party insurance...

SNOC begins gas production at Mahani field in Sharjah

Sharjah National Oil Corporation (SNOC) and its partner Italian oil major Eni have pulished the start-up of Mahani-1 gas well, marking the...