CAIRO: Russia’s nuclear agency Rosatom offered to build Egypt’s first nuclear power plant which will be located in the Mediterranean city of Dabaa, Egyptian presidency said in a statement Tuesday.
“The offer comprises the building of four units for nuclear power generation,” said the statement.
In May, Egypt has mulled international bids to build the nuclear plant from Russia, France, China and South Korea; however, Egyptian officials told Youm7 that the Russian bid has more advantages.
The tender sets a condition that the foreign partner should finance the project with 80 percent of its cost, estimated at $ 1.5 billion.
In February, President Abdel Fatah al-Sisi and his Russian counterpart Vladimir Putin announced in a Cairo press conference that Moscow would assist Cairo to construct the plant.
The construction is scheduled to begin in mid-2016 and last for five years, an official from the Ministry of Electricity told Youm7.
An anonymous official told al-Shorouk newspaper on May 31 that Egypt’s government may not include the cost of the power plant in the state’s general budget for 2015/2016 FY .
The Egyptian tender for the plant project sets a condition that the foreign partner should finance the project with 80 percent of its cost, estimated at $ 1.5 billion.