Egypt, Russia ink deal to build nuclear plant

Deal comes amid mounting tension between Cairo and Moscow following last month's crash of Russian passenger plane over Egypt’s Sinai Peninsula

Egypt, Russia ink deal to build nuclear plant

World Bulletin / News Desk

Egypt and Russia on Thursday inked a deal for the construction of a nuclear power plant in the Arab world’s most populous country.

In a televised statement, Egyptian President Abdel-Fattah al-Sisi said the planned third-generation plant would include four nuclear reactors.

"Construction of the nuclear plant aims to… send a message of hope, work and peace, both to us in Egypt and to the world," Sisi declared.

Egypt, he added, was keen to obtain nuclear know-how from Russia and establish its own peaceful nuclear energy program.

According to the Egyptian president, the cost of the project will be paid back over a 35-year period.

"The state budget won’t bear the cost of the plant’s construction, which will be covered by the production of electricity from the plant," he said.

In February, Cairo and Moscow signed a memorandum of understanding to build a nuclear reactor for power generation in Egypt's northwestern Al-Dabaa region.

The planned nuclear plant is expected to have a capacity of 1,000 megawatts of electricity.

The deal comes amid mounting tension between Egypt and Russia following last month’s crash of a Russian passenger plane over Egypt’s Sinai Peninsula in which all 224 people aboard were killed.

The ISIL militant group has since claimed responsibility for downing the plane, citing ongoing Russian airstrikes on ISIL positions in Syria.

Güncelleme Tarihi: 20 Kasım 2015, 09:16
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