A Russian nuclear firm Rosatom Corporation has announced plans to construct four Reactors in Dabaa nuclear plant in Egypt.
The Nuclear power company is currently pushing to expand its market to the middle East being one of the most growing market in nuclear power.
Rosatom hinted that talks with Egypt on the construction of the four reactors are on the final stages.
“The company is negotiating with the Egyptian government to sign a deal by the end of the year to do engineering, procurement and construction work for the El-Dabaa nuclear project,” Anton Moskvin, vice president for marketing and business development, told reporters Wednesday in Abu Dhabi.
Russian and Egyptian officials are discussing terms of a loan for the construction work. Rosatom is upbeat that once the contract is signed it can be completed in in 2022.
“We see the Middle East as one of the most promising markets in our portfolio,” Moskvin said later in an interview. This is mainly because the United Arab Emirates is showing “great results” in developing a nuclear industry and other states in the region are “constantly” expanding their economies and building infrastructure, he said.
On several occasions, the nuclear power project in Egypt has failed to kick off mainly due to a lot of bureaucracy and the recent civil unrest that engulfed the North African nation.
Construction of nuclear reactors in Dabaa nuclear plant in Egypt will essentially mean that the plant start operation.