Report: Russia, Egypt can postpone nuke deal to March 2017

CAIRO, Dec 28 (PRIME) -- Russia can postpone the signing of a contract with Egypt to build the country’s first nuclear power plant to March 2017, local news site Veto reported on Wednesday, citing a source in the electric power ministry of Egypt.

The source said that the negotiations over several clauses of the contract that concern the launch and servicing of the facility are still under way.

A source in Russian nuclear power corporation Rosatom said on Monday that the signing of the contract was preliminarily scheduled for Thursday.

But the source cited by Veto said, “Indeed, there has been a discussion of the contracts in the Egyptian State Council, we are at an advanced stage but there are still some moments requiring attention and settlement.”

The agreements between Russia and Egypt on construction of the plant in the El Dabaa region and on financing of 85% of the plant via a Russian U.S. $25 billion loan were signed in 2015. Moscow and Cairo are settling the details of commercial agreements on construction and servicing.

The El Dabaa nuclear power plant will comprise four 1,200-megawatt units.

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