CAIRO: A total of 360 million EGP ($45.9 million) will be dispensed in compensation for the expropriation of 12,000 aces to establish a nuclear power plant, Youm7 reported Friday.
The amount will be distributed in three installments of 120 million EGP each, head of the Egyptian Survey Authority (ESA) Medhat Kamal told Youm7.
The owner of every acre will be compensated with 30,000 EGP, an amount estimated by ESA and other authorities to achieve “fair compensation,” Kamal said.
The cash will be deducted from the budget o the Electricity Ministry, and after all residents of the area are compensated, the ESA will hand the land over to the body that will build the project.
On Thursday, the Egyptian Ministry of Electricity and Russia’s state-owned Rosatom signed a contract for the construction the first Egyptian nuclear power plant in the Mediterranean city of Dabaa.
Another 360 million EGP has been allocated to compensate former residents of the Sinai borders with Gaza, which is now a buffer zone, Kamal told Youm7 Monday. The buffer zone is one-kilometer wide and 15-kilometer wide.
The figures mean that an acre in Sinai will be expropriated in exchange for 97,124 EGP.