Egypt is set to generate electricity from the first unit of the Dabaa nuclear power plant in 2024, said Prime Minister Sherif Ismail on Saturday. Ismail made the comments in a televised speech at the launch ceremony of the East Port Said harbour development project. Egypt signed the nuclear plant deal with Russia’s state-owned nuclear firm Rosatom on 19 November. Moscow will provide finance for the construction, with repayment coming through a share of revenues over a 35-year period. Egypt will pay for the power plant with proceeds from “the actual production of electricity” from this plant, President Abdel Fattah al-Sisi said at a press conference following the signing ceremony. Sisi then described the Russian proposal as the “fastest” and “best” on the table. He stressed that the nuclear programme will be used for peaceful power generation purposes. Neither party has disclosed the revenue share split, nor the cost of the project. Egypt has been facing an energy crisis for years, with power outages surging in the increasingly hot summers. Egyptian authorities have often attributed the power cuts to a larger fuel crisis and have been taking measures in recent…
Egypt to Generate Electricity from Dabaa Nuclear Plant in 2024
November 29, 2015
