Russia lends Egypt $25 billion for Dabaa nuclear power plant
Experts warn that all safety and security precautions must be taken before the Dabaa nuclear plant in Marsa Matrouh is established, and they fear the impact of the massive Russian loan of $25 billion on the rise of Egypt's external debt.
CAIRO — Atomstroyexport, a subsidiary of Russia’s State Atomic Energy Corporation, or Rosatom, announced Feb. 17 that three Egyptian companies were awarded a tender offer for constructing the first phase of Egypt’s Dabaa nuclear power plant.
The three Egyptian companies, competing among 10 others, are Petrojet, Hassan Allam and the Arab Contractors.
The Egyptian government intends to start negotiations within the next few days with the Egyptian Nuclear and Radiological Regulatory Authority to obtain permission to start implementing the Dabaa nuclear plant project. The plant will be constructed in the Dabaa area of Marsa Matrouh governorate in the west of the country.
The Dabaa plant is the first nuclear plant for peaceful uses, with a total capacity of 4.8 gigawatts. The project is financially supported by Rosatom through a Russian loan amounting to $25 billion.
