Egypt, Russia sign nuclear plant contract

Russia's President Vladimir Putin shakes hands with Egypt's President Abdel Fattah al-Sisi on 11 December 2017 after a news conference in Cairo where they signed a deal for a new nuclear plant, which will be Egypt’s first. Photo: Reuters/Alexander Zemlianichenko/Pool

CAIRO - Egypt and Russia signed a final contract on Monday for the building of Egypt's first nuclear power plant, during a visit to Cairo by President Vladimir Putin.

The contract to build the plant in Dabaa on the Mediterranean coast was signed during a live ceremony shown on state television and attended by the Russian leader and Egyptian President Abdel Fattah al-Sisi.

READ: Putin in Cairo for Sisi meeting

The contract was signed by the head of Russian state nuclear company Rosatom, Alexei Likhachev, and Egypt's electricity and renewable energy minister, Mohamed Shaker.

Egyptian media reports put the cost of the plant at around $30 billion.

The two countries signed two agreements in November 2015 for Russia to finance and build the power plant, with four 1,200 megawatt reactors, in Dabaa.


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