Russia offers financing options for Egypt’s nuclear program

Minister of Trade and Industry Rachid Mohamed Rachid said Russia offered Egypt three options for financing construction of its nuclear power plant, including “the establishment of the nuclear power plant on a build-operate-transfer (BOT) system, the provision of long-term low-interest government loans, or the provision of commercial loans from Russian state banks.”
During a press conference on Monday which included Russian Minister of Trade and Industry Viktor Khristenko, Rachid said that Russian companies will participate in next month’s tender offer to select the company that will execute the project. Rachid added that he welcomed the heavy competition among international companies.

For his part, Khristenko said his country will compete for the Egyptian project, pointing out that government and political support increases Russian companies’ chances of winning.

Translated from the Arabic Edition.

Related Articles

Back to top button