Egypt's golf chief Omar Hisham Talaat elected to Arab Golf Federation board    Egypt extends Eni's oil and gas concession in Suez Gulf, Nile Delta to 2040    Egypt, India explore joint investments in gas, mining, petrochemicals    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egyptian pound inches up against dollar in early Thursday trade    Singapore's Destiny Energy to invest $210m in Egypt to produce 100,000 tonnes of green ammonia annually    Egypt's FM discusses Gaza, Libya, Sudan at Turkey's SETA foundation    UN warns of 'systematic atrocities,' deepening humanitarian catastrophe in Sudan    Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it    Egypt launches 3rd World Conference on Population, Health and Human Development    Cowardly attacks will not weaken Pakistan's resolve to fight terrorism, says FM    Egypt's TMG 9-month profit jumps 70% on record SouthMed sales    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Latvia sign healthcare MoU during PHDC'25    Egypt, India explore cooperation in high-tech pharmaceutical manufacturing, health investments    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Egypt releases 2023 State of Environment Report    Egyptians vote in 1st stage of lower house of parliament elections    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    VS-FILM Festival for Very Short Films Ignites El Sokhna    Egypt's cultural palaces authority launches nationwide arts and culture events    Egypt launches Red Sea Open to boost tourism, international profile    Qatar to activate Egypt investment package with Matrouh deal in days: Cabinet    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Madinaty Golf Club to host 104th Egyptian Open    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Electricity minister to send president memo on Dabaa negotiations next week
The ministry has banned officials from comment until the contracts are complete; negotiations are in final phase, says minister
Mohamed Farag Published in Daily News Egypt on 08 - 12 - 2016

Minister of Electricity Mohamed Shaker is set to present a detailed memo to the president next week, on the latest developments of the Dabaa nuclear plant negotiations with Russian company Rosatom.
A government source told Daily News Egypt that negotiations are very accurate and discrete. both parties are discussing the safety of reactors during the establishment phase and the provision of nuclear fuel. "Every decision will be final," he stressed.
The source said added that the consultant hired by the Ministry of Electricity has attended all negotiations, and 90% of the contracts are finalised.
The Ministry of Electricity has banned all its officials from discussing the negotiations.
Shaker told Daily News Egypt that the negotiations are in their final stage.
The source also said that a high-level Russian delegation will arrive in Cairo next week to follow up the project site measurements in Dabaa.
The Egyptian government agreed with Rosatom to establish Dabaa nuclear power plant with a 4,800MW capacity. The agreement includes building nuclear fuel storage facilities to supply the nuclear plant with the required nuclear fuel throughout the 60-year operational period. Rosatom will also manage nuclear waste, maintenance, and operations for 10 years.
Russia will provide Egypt with a $25bn loan to finance the necessary construction equipment and the operation of the plant in Dabaa.
The loan is used to finance 85% of the value of each contract to implement works, services, and shipments for the project. The Egyptian side will pay the remaining 15% in the form of instalments. The amount will be paid for the benefit of authorised Russian institutions according to the contracts, either in the form of an advance or as a payment that is made later after implementing the works and services, and delivering supplies. The loan has a 13-year term from 2016 to 2028, with a 3% annual interest rate.

Clic here to read the story from its source.