The Egyptian House of Representatives has approved the Energy & Environment Committee’s report on Presidential Decree 515 of 2024, which amends the government financing agreement between Egypt and Russia securing an export loan from Moscow to support the construction of the El Dabaa NPP.
The decree was reviewed by a joint committee that included members of the Energy & Environment Committee, as well as representatives from the Planning & Budget, Economic Affairs, and Foreign Relations Committees. During three sessions, the committee examined the decree, its explanatory memorandum, and feedback from government officials before recommending approval. The amendments to the financing agreement are aimed at aligning the loan’s terms with the project’s implementation schedule, ensuring smooth progress of construction.
El Dabaa NPP will comprise four units with generation III+ VVER-1200 pressurised water reactors. The NPP is being constructed in accordance with contracts that entered into force in 2017. The $30bn project is mainly financed through a $25bn Russian loan. Rosatom will supply nuclear fuel throughout the lifecycle of the plant, arrange for the training of the Egyptian personnel, and assist in the operation and maintenance of the plant for the first 10 years. The reference plant for El Dabaa is the Leningrad-II NPP. Construction of all four units is planned for completion by 2028-2029, and Egypt expects that the NPP will reach full capacity by 2030.
