Moscow to Fund Egypt's First Nuclear Power Plant
Following almost two years of negotiations, a deal was finalized on the sidelines of the BRICS summit held in China
Russian media say Egypt has finalized a deal to build a nuclear power plant with funding from Moscow after nearly two years of negotiations.
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The reports Monday came after Egypt's President Abdel-Fattah el-Sissi met with Russian President Vladimir Putin in China, where they were attending a summit.
The nuclear plant will be built in Dabaa, about 130 kilometers (80 miles) northwest of Cairo on the Mediterranean coast.
Egypt's presidency says el-Sissi has invited Putin to Egypt to mark the start of construction.
In 2015, Egypt signed an agreement with Russia to build a four-reactor power plant. It will receive a $25 billion Russian loan to cover 85 percent of the plant, with a capacity of 4,800 MW.
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