Egypt gains billions of dollars from Dabaa nuclear project

Dr. Hussein Al-Shafei, President of the Egyptian-Russian Foundation for Culture and Science, said that President Abdel Fattah Al-Sisi had led to the improvement of relations between Egypt and Russia and the entry of Egypt into the field of nuclear energy.

Pointing out that the nuclear project has been implemented with a Russian loan 25 billion dollars, but it makes to the Egyptian treasury more than 264 billion dollars net profit.

He added that the Russian loan will be repaid for 22 years in 43 instalments, at a rate of two instalments each year, with a simple interest rate 3% that is not compounded, stressing that no payment will be made any premium only after the operation of the nuclear plant.

Al-Shafei said that the minimum period of the nuclear plant according to the official documents is 60 years. Egypt has contracted to build 4 nuclear plant, each one with 1.2 GW capacity, with a total capacity of 4.8 GW and if the electrical power coming out of the nuclear plant sold at the tariff approved by the Ministry of Electricity, Will return to the Egyptian government more than $ 300 billion, of which $ 25 billion is deducted from the value of the Russian loan, and the benefits which were $ 15 billion or more over 60 years are the minimum lifespan of the plants.