Russia offers Egypt 33-year financing of nuclear plant: Newspaper
Mon, 31/08/2015 - 16:39 Egypt Independent
http://www.egyptindependent.com//news/russia-offers-egypt-33-year-financing-nuclear-plant-newspaper

Russia has offered to facilitate financing over a period of 33 years to
Egypt for its first nuclear-powered, electricity-generating plant, a
newspaper has reported.

Russia has also proposed to build the nuclear plant, the expense payable
over 33 years, in addition to an 11-year grace period, reported economic
daily Al-Mal.

News reports had said that Egypt was close to a deal with Russian Rosatom
for the construction of two nuclear power units worth US$5 billion each in
the first phase of its planned nuclear plant. The government signed a
memorandum of understanding with Rosatom back in February to that end, but
negotiations are still ongoing.

The presidency said last week that both sides were still negotiating
financial and technical details.

The Electricity Ministry had said that Rosatom’s offer involved the
construction of four nuclear units with a 1,200-megawatt capacity, each
costing US$5 billion.