Egypt, Russia ink pact for nuclear power plant in Egypt

Cairo, Dec 11:Egypt and Russia signed on Monday an agreement to build Egypt's first nuclear power plant.

The agreement was inked by Egyptian Electricity Minister Mohamed Shaker and Russian Nuclear Corporation Rosatom's chief Alexei Likhachev, in the presence of Egyptian President Abdel-Fattah al-Sisi and his visiting Russian counterpart Vladimir Putin, media reported.

In February 2015, Putin and Sisi signed an initial agreement here to build a four-reactor nuclear power station in Egypt by 2022.

In May 2016, Egypt approved the use of a loan of $25 billion from Russia for the nuclear power plant construction.

Under the deal, Moscow will provide 80 per cent of the foreign components of the plant, while Egypt provides 20 per cent.

The plant will be erected in Dabaa city in Egypt's coastal Matrouh province.

The Russian President arrived here on Monday from Damacus, where he ordered the withdrawal of most Russian troops from Syria.