Korea Hydro & Nuclear Power (KHNP) has been selected to participate in Egypt’s El-Dabaa nuclear power plant project.
The company has been selected as the single-source supplier of “turbine islands” for Egypt’s first nuclear power plant project, except for four 1,200-MW reactors with a capacity of 4,800 megawatts being built by Russia.
The two sides plan on completing the negotiations regarding the contract by the end of next month and to sign it in the end of April. The El Dabaa NPP will be built on the Mediterranean coast, about 300 km northwestward of Cairo. The next three phases for the nuclear power plant will witness the operation of three reactors at, which would reduce the Egyptian and Russian staff needed at the plant.
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Scope of work
The nuclear power plant project is based on contracts that entered into force on December 11, 2017. It will see eight nuclear power stations built over eight phases. The first includes a station of four reactors to general power at 1,200MW, which makes the capacity of the station 4,800MW.
Moscow will supply Russian nuclear fuel for its entire life cycle. It will also assist Egyptian partners in training personnel and plant maintenance for the first 10 years of its operation. Russia is also contracted to build a special storage facility and supply containers for storing used nuclear fuel.
The project will cost US$28.75 billion of which Russia will finance 85% as a state loan of US$25 billion and Egypt will provide the remaining 15% in the form of installments. The Russian loan has a repayment period of 22 years, with an annual interest rate of 3%.
