Rosatom Director General Alexey Likhachov and Egypt's Minister of Electricity and Renewable Energy Mohamed Shaker today signed notices to proceed with contracts for the construction of four VVER-1200 units at the El Dabaa nuclear power plant.
The contracts, signed in the presence of President Abdel Fattah El Sisi of Egypt and President Vladimir Putin of Russia, follow a November 2015 intergovernmental agreement, which included the provision of a Russian state-backed loan of $25 billion for the $30 billion project. The Russian loan will cover about 85% of the plant's construction costs, with Egypt to raise the remainder from private investors.
According to the contracts signed today, Rosatom will build four VVER-1200 reactors at El Dabaa, in the Matrouh region on the Mediterranean coast, and supply nuclear fuel throughout the plant's entire lifetime. Rosatom will also train personnel and will assist its Egyptian partners in operation and maintenance during the first ten years of the plant's operations. The contract also includes the construction of a purpose-build storage facility and the supply of containers for the storage of used nuclear fuel.
Read more here at World Nuclear News.