Egypt Finalizes Deal with Russia for First Nuclear Plant

(AP) CAIRO — Russian media said Monday that Egypt has finalized a deal to build a nuclear power plant with funding from Moscow after nearly two years of negotiations.

The reports came after Egypt’s President Abdel-Fattah el-Sissi met with Russian President Vladimir Putin in China, where they were attending a summit.

The nuclear plant will be built in Dabaa, about 130 kilometers (80 miles) northwest of Cairo on the Mediterranean coast.

In 2015, Egypt signed an agreement with Russia to build a four-reactor power plant. It will receive a $25 billion Russian loan to cover 85 percent of the plant, with a capacity of 4,800 megawatts.