Arab Finance: Russia's state nuclear energy corporation Rosatom has announced that Egypt has become the largest recipient of financing among the company's nuclear projects worldwide, driven by the development of the Dabaa Nuclear Power Plant, Al Borsa News reported.
The Dabaa project is estimated to cost around $30 billion, with approximately 85% of the funding provided through a long-term Russian loan.
The financing agreement extends over 22 years and carries an interest rate of nearly 3%.
The company said Egypt is also the largest country in terms of the total capacity of nuclear power plants financed by Rosatom globally. It added that the Dabaa Nuclear Power Plant represents the corporation's largest project outside Russia.
The Dabaa Nuclear Power Plant, currently under construction on Egypt's Mediterranean coast, is being developed as part of cooperation between Egypt and Russia in the field of peaceful nuclear energy.
