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CAIRO, September 29. /TASS/. Egyptian President Abdel Fattah el-Sisi and Chief Executive of Russia’s civilian nuclear power corporation Rosatom Sergei Kiriyenko discussed on Thursday final financial and technical terms of contracts to build Egypt’s first nuclear power plant in El Dabaa.
"The meeting discussed the final technical and financial parameters of contracts that will be signed with Rosatom to build the nuclear power plant in El Dabaa," official representative of the head of the Arab Republic of Egypt Alya Yusef said, noting that Cairo was seeking "the best terms of building the NPP for peaceful purposes."
"The president highly praised the growing Russian-Egyptian relations and the development of bilateral cooperation in various fields, pointing to the importance of finalizing contracts for the station’s construction to start the project’s implementation," he added.
Russia and Egypt signed an inter-governmental agreement on November 19, 2015 in Cairo on building Egypt’s first nuclear power plant to comprise four 1,200 MW power units. Russia also signed an agreement with Egypt at that time to grant the Egyptian side a $25 billion government export loan for the NPP’s construction.
The loan will be disbursed in 2016-2018 and will allow financing 85% of the NPP’s construction.