Egypt Zones accountACCOUNT

Egypt Approves Saudi Arabia Cooperation Agreement on Nuclear Power

Source: www.export-egypt.com 5/27/2016, Location: Africa

Share |
Egypt's cabinet approved a deal with Saudi Arabia regarding peaceful cooperation on nuclear power, according to a cabinet press release.

The deal was initially signed on 8 April during a visit by Saudi's King Salman Abdel Aziz to Cairo.

The agreement aims to establish cooperation in peaceful uses of nuclear power and on nuclear security, according to the release.

Egypt's government is moving ahead with plans to build the country's first nuclear power plant, expected to be completed in 2022 and operational by 2024.

The plant, located in Dabaa in the coastal governorate of Marsa Matrouh, will eventually generate a total of 4,800 megawatts through four reactors.

Last week, President Abdel Fattah El-Sisi approved a $25 billion loan from Russia to fund the building and operation of the plant.

Egypt and Saudi Arabia are already working on connecting their power grids through a $1.6 billion deal, approved by Egypt's cabinet in January 2015, where they would share 3,000 megawatts of electricity by 2017.

During King Salman's visit, Egypt and Saudi Arabia also signed final loan agreements worth over $24 billion.

Financials and Investment News in Egypt >>

Egypt >>  11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
Egypt >>  11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...

Egypt >>  11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
Egypt >>  11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...

Egypt >>  11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
Egypt >>  11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.

The Cabinet is set to add...





Egypt Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 |

More News

Oil & Gas Companies in Egypt >>

Related Links

Egypt Zones
Copyright © Universal Solutions All rights reserved. - Privacy Policy.