Cairo – Mubasher: Egypt is to receive the first tranche of Russia's $25 billion loan for El Dabaa nuclear power plant in January 2018, the electricity ministry reported on Wednesday.
The loan will cover 85% of the total construction cost of the nuclear plant plant valued at $21 billion, as well as designs, safety and environmental studies, Daily News Egypt stated.
On Monday, Egypt and Russia signed the agreement of El Dabaa nuclear power project during the meeting of Egyptian President Abdel Fattah El Sisi and his Russian counterpart Vladimir Putin in Cairo.
The Russian state nuclear company Rosatom will implement the nuclear power project within 12 years.
The project comprises of four units with 1,200 megawatts each.
