The Nuclear Power Plants Authority (NPPA) has presented a list of 20 companies—specialised in civil works and electricity cables—to Russian state-owned corporation Rosatom to take part in the project. Amongst these companies are Orascom Construction Industries, Elsewedy Electric, Hassan Allam, Petrojet, and Arab Contractors.
Sources at the authority said that the local component in the construction of the first reactor will be 20%, where Egyptian companies will conduct civil works and electric cables, while the Russian company will deal with the reactors and the technologies.
The sources added that a number of Rosatom employees will be deployed to Dabaa to continue the required studies and measures, noting that construction is expected to begin by the end of this year, after obtaining the necessary permits.
Egypt signed an agreement with Russia to establish a nuclear power plant in Dabaa with a capacity of 4,800MW for $30bn.
Russia will provide a governmental loan to Egypt worth $25bn.
The loan is used to finance 85% of the value of each contract to implement works, services, and shipments of the project. The Egyptian side will pay the remaining amount—representing 15%—in the form of instalments. The amount will be paid for the benefit of the authorised Russian institutions in a way that suits the contracts, in the form of an advance or any payment that is later made after delivering supplies and implementing works and services. The term of the loan is 13 years over the period from 2016 until 2028, with a 3% annual interest rate.
The chairperson of the NPPA, Hassan Mahmoud, said that Russia will provide the technology and services needed for the project, including the nuclear fuel throughout the lifespan of the project. He noted that Russia also provided a facilitated loan.
He pointed out that there are 470 operative reactors in 31 countries around the world—producing some 392,000MW. He added that the US alone owns 99 reactors.