CAIRO: Egypt will start producing power from the nuclear power plant in the Mediterranean city of Dabaa by 2024, announced Prime Minister Sherirf Smail Saturday.
“The production capacity of a reactor reaches 1,200 megawatt […]the plant will be implemented and first unit will operate by 2024,” Ismail said in his speech at the inauguration ceremony of East Port Said Development Project Saturday.
On Nov. 19, the Egyptian Ministry of Electricity and Russia’s state-owned Rosatom signed a contract for the construction of the plant.
The plant’s construction is to be accomplished in two phases; Russia will build four reactors, while the other four reactors will be offered for an international tender. The construction works are scheduled to start in mid-2016 to be completed by 2022. Costs of all four reactors are estimated at $20 billion as $5 billion for each, per the contract.
Russia will fund 80 percent of the plant constructions; President Abdel Fatah al-Sisi announced in the signing ceremony that his country will repay Russia a loan over 35 years from the revenues of electricity that will be produced from the plant. He did not mention the value of the loan.
In 1981, Egypt allocated the Dabaa area in the Mediterranean governorate of Matrouh, 183.9 miles to the northwest of Cairo, to build the plant of 55 square kilometers.