Russia to help build Egypt's first nuclear power plant
Tuesday, February 10, 2015 at 10:35PM
Uranium Stocks

The presidents of Russia and Egypt have announced after talks in Cairo that the two countries are to build Egypt's first nuclear power plant together, as well as boosting natural gas trade among other deals.

Vladimir Putin and Abdel Fattah el-Sisi made the announcement on Tuesday at a joint news conference in the Egyptian capital, where they signed an agreement on the plant's construction.

"If final decisions are made, it will mean not just building a nuclear power plant, it means the creation of the entire new atomic industry in Egypt," said Putin.

The plant would be built at the existing nuclear site in Dabaa, on the Mediterranean coast west of the port city of Alexandria, where a research reactor has stood for years.

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