Construction of Dabaa nuclear plant to start soon: CEO
The CEO of the Russian state nuclear company Rosatom in the Middle East and Africa
Alexander Voronkov announced on Saturday that the company would soon start building the first nuclear power plant in Dabaa. The project will fundamentally change the life of the Matrouh Governorate and Egypt as a whole.
In his speech at the inauguration of the Nuclear Science Festival, Voronkov highlighted the importance of technology for high development rates, which the nuclear industry is hard at work on.
He added that documentaries have been made showing the impact of such projects on ordinary citizens and improving their lives, as well as the impact on economic growth rates in many countries.
In December 2018, Russian President Vladimir Putin and Egyptian President Abdel-Fattah al-Sisi signed a contract to start work on the plant, according to Alexei Likhachev, chairman of the board of directors of Rosatom.
The facility is expected to be fully built by 2022, and Russia has agreed to loan Egypt $ 25 billion to finance the construction and operation of the facility. Egypt has agreed to pay an interest rate of 3 percent per year. Installment payments begin on October 15, 2029.