El Dabaa Nuclear Power Plant
El Dabaa Nuclear Power Plant is the first nuclear power plant planned for Egypt and will be located at El Dabaa, Matrouh Governorate, Egypt, which is about 130 Kilometers northwest of Cairo. The plant will have four VVER-1200 reactors, making Egypt the only country in the region to have a Generation III+ reactor. History. On November 19, 2015 Egypt and Russia signed an initial agreement, under which Russia will build and finance Egypt’s first nuclear power plant. In December 2017 preliminary contracts for the construction of four VVER-1200 units were signed in the presence  of Egyptian President Abdel Fattah el-Sisi and Russian President Vladimir Putin. Finance. 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%.