Egypt, Russia sign $21 bln nuclear power plant deal

Egypt and Russia on Monday signed a $21 billion deal to start work on Egypt’s Dabaa nuclear power plant, the Egyptian TV reported.

The agreement was inked by Egypt’s Minister of Electricity Mohamed Shaker and Alexey Likhachev, chief executive of Russia’s state-owned nuclear corporation Rosatom, in the presence of Egyptian President Abdel-Fattah al-Sisi and his Russian counterpart Vladimir Putin.

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