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Electricity Ministry completes studies on Al-Negila for establishing nuclear power plant Negotiations underway with Marsa Matrouh governor to allocate 30km to launch the project
The Nuclear Power Plants Authority and the international consultant Worley Parsons completed the studies on Al-Negila project in Marsa Matrouh to set up a nuclear power plant. An official at the authority said that he is responsible for the preliminary study conducted by Worley Parsons that proved the validity of Al-Negila site in Marsa Matrouh governorate for establishing nuclear power plants with a total capacity of 2,800 MW by 1,400 MW per plant with investments worth $14bn. He added that further studies will be conducted that will take two years. The authority is negotiating with Marsa Matrouh governor to allocate 30km in Al-Negila to establish the project, but the plant's establishment will be postponed until Al-Dabaa nuclear power plant has been implemented. The project will be included in the peaceful nuclear programme, which the Ministry of Electricity targets to implement in order to diversify its electricity production sources. The project will be offered in a tender after completing its technical and financial studies. "We have received three offers from South Korea, China, and France to set up a nuclear power plant, but we have postponed them until we have finished all the studies," the source said. The ministry is awaiting approval from a number of agencies, including the ministries of defense, interior, petroleum, housing, agriculture, communication, environment, tourism, and the Supreme Council of Antiquities in order to submit a proposal to the cabinet in preparation for submitting it to the president to issue a presidential decision to allocate the land for building the project. Al-Negila area is located in Marsa Matrouh on an area of 77 sqkm, and it is bordered by the Mediterranean Sea in the north and it intersects with lands owned by ministries of housing, tourism and environment. Egypt signed an agreement with Russia to set up Al-Dabaa nuclear power station with a capacity of 4,800 MW with third-generation technology, considered as the safest technology. The plant's cost is $30bn. Russia will provide a government loan in favour of Egypt worth $25bn in order to finance the business services related to construction and operation equipment of the nuclear power plant. The loan will finance 85% of the value of each contract for implementing works, services, and the shipments of the project's equipment. The remaining amount will be financed locally. The loan is valid for 13 years, from 2016 to 2028, at an interest rate of 3% per year.
