The Egyptian Jackpot

The Egyptian Jackpot

Alexei Likhachev, the head of the Russian company Rosatom, declared recently that the total value of transactions with Egypt has already reached $ 60 billion. In addition to the agreement on the construction of the nuclear power plant, El-Dabaa, the company signed other contracts with the Egyptian side. The Egyptian jackpot started with the agreement on the construction of the nuclear power plant, Ed-Dabaa, during Vladimir Putin’s talks with Abdel Fattah As-Sisi in Cairo in December 2017. The project cost is 29 billion dollars, of which about 25 billion will be provided by the Russian side in the form of a loan with an interest rate of 3%.

The first stage includes the construction of four units (out of eight planned), each with a capacity of 1,200 MW. The launch of the first block is planned for 2022, the remaining ones are planned to be completed before 2027. China (SPIC) and France (Framatome) are competing to get into the second round. However, Rosatom invested in early stage in Egypt, in particular in the education development. In April 2015, Rosatom and the University of Alexandria signed an agreement on the training of Egyptian students in Russian universities. Over five years, it is planned to train about 1200 specialists in the field of nuclear energy.

About Author

Arnaud Lefevre

Arnaud Lefevre is the Chief Executive Officer of Dynatom International. Arnaud is in charge of the international development of the business portfolio.

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