Russia, Egypt to sign a second bilateral agreement for NPP Construction in Egypt​: Dmitry Medvedev​

Russia, Egypt to sign a second bilateral agreement for NPP Construction in Egypt​: Dmitry Medvedev​

Russia, Egypt To Sign A Second Bilateral Agreement For NPP Construction in Egypt​: Dmitry Medvedev​. А new intergovernmental agreement on a planned...

А new intergovernmental agreement on a planned nuclear power plant construction project in Egypt is almost ready for signing, Russian Prime Minister Dmitry Medvedev said in an interview for Al-Ahram newspaper on the threshold of his visit to Egypt. A package of relevant contracts is already being prepared and is expected to be signed this autumn, Dmitry Medvedev added.

An NPP development project was signed between the two countries on February 10 during Russian President Vladimir Putin's visit to Egypt.

Dmitry Medvedev noticed that “Technical specifications and the number of nuclear power units, as well as the key commercial terms, have been agreed upon. They will be included in a new intergovernmental agreement, which is almost ready for signing”. He expressed hope that the document will be signed during the next bilateral meeting at the highest level.

Dmitry Medvedev also noted that both countries’ respective finance ministers “are conducting intensive consultations on an intergovernmental agreement, which will make a Russian government loan available to Egypt”. He added that Russia can provide Egypt with the latest power units equipped with the safety systems that were developed following the Fukushima-1 accident. The same Russian projects are built in many countries (e.g. Iran, India, China and others).

According to Russian prime minister, the joint project will create thousands of jobs for Egyptians, who will also have the opportunity to get "academic and hands-on training" at Russian nuclear facilities. Dmitry Medvedev highlighted that there are about 50 Egyptian students who will start training at Russian universities in various professions this year already.

In February, Russian State Corporation Rosatom and the Ministry of Electricity and Renewable Energy of Egypt signed an agreement on developing a project to build a Russian designed NPP in Egypt. According to declarations made by Sergei Kiriyenko, CEO of the Rosatom State Atomic Energy Corporation, the Parties “achieved the agreement in principle” for construction of 4 power units with a total capacity of 4800 MW. The estimated cost of the project is about $20 mln. The Russian government loan for Egypt is previewed.

Russia and Egypt signed a cooperation agreement on peaceful nuclear energy in 2008. Under the deal, Russian companies are allowed to partake in tenders to construct nuclear plants in Egypt.

Egypt plans to build its first nuclear power plant in the Dabaa coastal area. It is expected to be put into operation in 2019.

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