Caspian Energy Journal Caspian European Club
Tuesday, 08 September 2015 09:00

RF, Egypt expected to sign an intergovernmental agreement on NPP construction this year

Russia and Egypt are expected to sign an intergovernmental agreement on construction of a nuclear power plant in Egypt until the end of this year, Rosatom CEO Sergei Kiriyenko told journalists, Caspian Energy News ( reports with reference to the press service of Rosatom.

“There is a fundamental decision of the Government of Egypt. We are finalizing work on the fundamental terms and parameters. Yes, I think it should be signed this year”, he said.

According to the Rosneft CEO, the sides are negotiating the possibility of obtaining a loan from Russia. “Construction of such facilities is usually associated with the provision of an export credit. Yes, this option is under discussion”, Sergei Kiriyenko said. According to him, the standard percentage to ensure financing for construction of a power plant by the Russian side is 70-80%.

The agreement on the NPP construction project in Egypt was signed in Cairo in February this year. Sergei Kiriyenko said the sides had reached “principle agreement” to construct four blocks with the capacity 1,200 MW each and a total cost of about $20 billion, using the Russian NPP technology.

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