(Ecofin Agency) - Cairo and Moscow could sign deal for the construction of the Dabaa nuclear plant next December.

Egyptian economic newspaper Al bursa indeed said Russian company Rosatom could sign a contract with the Egyptian government for the project. “Government sources said that the Russian company will complete the verification of data and characteristics of the site next month, in preparation for the signing of a commercial contract for the construction of the Dabaa nuclear power plant in December,” the media said.

The media’s sources added that legal and financial aspects related to the project have been taken care of and a detailed report on the results of the last negotiations has been submitted to Egyptian President Abdel Fattah Sisi (picture).

The 1,200 MW plant is expected to be completed in 2022. The project whose cost was not disclosed will be financed by Russia in the form of a loan repayable over 35 years.

Egypt’s President previously announced the construction of the Dabaa plant for March 2016. Designing of the plant commenced in 1986.

Gwladys Johnson