Putin to visit Egypt for laying foundation of Dabaa Nuclear Power Plant’s 4th reactor: Kremlin

Ahram Online , Saturday 20 Jan 2024

Russian President Vladimir Putin is going to visit Egypt to participate in laying the foundation for the fourth reactor in the Dabaa Nuclear Power Plant, the Kremlin in Moscow announced on Friday.

Vladimir Putin
Russian President Vladimir Putin leads a cabinet meeting via videoconference at the Kremlin in Moscow, Russia, Wednesday, Jan. 17, 2024. AP


The spokesperson of the Russian presidency (the Kremlin) Dmitry Peskov announced in a press conference that preparations are underway for the participation of President Putin in an event related to the pouring of concrete for the fourth reactor at the Dabaa Nuclear Power Plant being constructed by Russia in Egypt.

"Yes, preparations are already underway, and this event is very important," said Peskov, responding to a question from a journalist on Friday, according to the Russian channel RT Arabic. 

"Our cooperation with Egyptian partners continues in various fields, and Egypt is a very important partner, including in the field of this advanced technology, which is crucial for further development in Egypt," Peskov continued. 

Peskov also affirmed that Russia is an unparalleled leader in the global nuclear industry. "We provide better, cheaper, and higher quality services, making it extremely challenging for other participants in this market to compete with us," he stated.

The Nuclear Power Plant (NPP) is set to include four nuclear reactors with a capacity of 1.2 GW each.

NPPA and Rosatom began building the first nuclear reactor and the second reactor in 2022. In May 2023, the foundation was laid for the third reactor.

The total cost of the Dabaa NPP project is estimated at $30 billion.

Egypt expects that the NPP, which is being built in the city of Dabaa in Matrouh Governorate, will operate at full capacity by 2030.

Under the agreement, Egypt is to start payments on the loan at a rate of 3 percent per annum in October 2029.

In 2015, Russia signed an agreement with Egypt to provide the country with a state export loan of $25 billion for the construction of the NPP, which will cover 85 percent of the cost of construction work.

The NPP project in Egypt will be Rosatom’s first major project in Africa.

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