Dabaa nu­clear plant con­tracts ex­pected to be signed next month

Putin to at­tend the cer­e­mony, in­vi­ta­tions to be sent out in 3 weeks

The Daily News Egypt - - Front Page - By Mo­hamed Farag

The Egyp­tian pres­i­dency is pre­par­ing to or­gan­ise the sign­ing cer­e­mony of the con­tracts for the Dabaa nu­clear plant with Rus­sia, in the pres­ence of Pres­i­dents Ab­del Fat­tah Al-Sisi and Vladimir Putin.

Gov­ern­ment sources told Daily News Egypt that Al-Sisi was briefed on all the con­tracts and agree­ments of the Dabaa nu­clear plant af­ter re­view by the State Coun­cil.The agree­ments are now ready to be signed by the Egyp­tian and Rus­sian sides.

The sources added that Pres­i­dent Al-Sisi ex­tended an in­vi­ta­tion to his Rus­sian coun­ter­part to sign the con­tracts in ac­cor­dance with his agenda. It was agreed that the sign­ing will be in De­cem­ber due to the Rus­sian pres­i­dent’s full Novem­ber sched­ule.

The sources pointed out that Al-Sisi is very en­thu­si­as­tic about the es­tab­lish­ment of the Dabaa nu­clear power plant for peace­ful en­ergy pro­duc­tion, not­ing that the delay of the con­tract so far was due to the pres­i­dent’s keen­ness to fol­low up on all the plant’s de­tails, in­clud­ing safety, costs, and con­tracts.

More­over, the sources said that the pres­i­dency will distribute in­vi­ta­tions to guests within three weeks.The list of in­vi­tees in­cludes sci­en­tists, pub­lic fig­ures, mem­bers of the me­dia, as well as lead­ers of the Rus­sian com­pany Rosatom, which will con­struct the plant.

Egypt reached an agree­ment with Rus­sia to build a nu­clear power plant in Dabaa with a ca­pac­ity of 4,800 MW and with the most se­cure third-gen­er­a­tion technology.The cost of the plant is es­ti­mated at $30bn.

Rus­sia will pro­vide Egypt with a loan worth $25bn to fi­nance the con­struc­tion and op­er­a­tion of the Dabaa plant.

The loan will be used to fi­nance 85% of the value of each con­tract to im­ple­ment works, ser­vices, and ship­ments of the project.The Egyp­tian side will pay the re­main­ing amount, rep­re­sent­ing 15%, which will be paid in the form of in­stall­ments.The amount will be paid through the au­tho­rised Rus­sian in­sti­tu­tions, in a way that suits the con­tracts, in the form of ad­vance pay­ments, or ones to be paid af­ter im­ple­ment­ing works and ser­vices, and de­liv­er­ing sup­plies.

The loan is to be paid over 13 years, from the pe­riod be­tween 2016 and 2028, with a 3% an­nual interest rate.

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