US $190m has been allocated by the Russian government for the establishment of Dabaa nuclear power plant project in Egypt. Deputy Chairman of the Nuclear Energy Authority Abdel Hamid el-Desoky made the announcement and said that an alliance has been formed between Egypt and Russia to develop some part of the project.
He further added that a feasibility study is being conducted to manufacture parts of the nuclear reactors in Egypt, and pointing out that the domestic manufacturing of nuclear energy will be expanded to reach 35% upon receiving four reactors in 2029.
Dabaa Nuclear Power Plant project
The Dabaa Nuclear Power Plant project will be the first nuclear power plant planned for Egypt and will be located at El Dabaa, Matrouh Governorate, which is about 130km northwest of Cairo. The energy project will be constructed by Rosatom in Egypt.
The power plant is planned to be similar to Russia’s Leningrad Nuclear Power Plant, which has an installed capacity of 4,200 MW and supplying 50% of the energy consumed in Saint Petersburg and the Leningrad Region. The plant will have four VVER-1200 reactors, making Egypt the only country in the region to have a Generation III+ reactor.
Upon completion, Dabaa power plant will have a capacity of 4800MW. The overall cost of the project is US $29bn out of which Russia will finance 85% as a state loan and Egypt will provide the remaining 15% in the form of instalments. The Russian loan has a repayment period of 13 years, with an annual interest rate of 3%.
Preliminary contracts for the construction of four VVER-1200 units were signed in the presence of Egyptian President Abdel Fattah el-Sisi and Russian President Vladimir Putin.