CAIRO: The Russian Rosatom State Nuclear Energy Corporation announced Friday night it is looking at investments in the nuclear industry in Egypt, Youm7 reported Friday.
The Deputy Director General for International Affairs of Rosatom discussed nuclear investment with Egyptian Ambassador in Russia Mohamed al-Badry Friday, according to Youm7.
Last February Egypt and Russia signed an agreement to develop the first nuclear power plant in Egypt, with plans to build other four power plants. Two agreements are expected to be signed between both countries regarding establishing power plants procedures and loans.
In September 2014 Egypt announced it would push ahead with plans to build its first nuclear power plant in Dabaa, Marsa Matrouh on the Mediterranean coast.
Dabaa was selected as host location for a nuclear plant in 1981s, and a number of residents were evacuated from their homes, however actual construction on the proposed plant never began, held up by insufficient funding. In his inauguration speech on June 8, President Abdel Fatah al-Sisi vowed to revive the project.
Egyptian-Russian relations witnessed major developments during the past period; President Sisi visited Russia twice, once before and once after his election. His counterpart Vladimir Putin visited Egypt earlier February.