Russia ready to finance Egypt first nuclear plant

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RIA Novosti, PUBLISHED December 21, 2010

Russia confirmed its participation in a tender to build Egypt's first nuclear power plant and said it was willing to help finance the project, Egyptian Trade and Industry Minister Rachid Mohamed Rachid said on Monday.

"[The financing] will either be through government loans or loans from state-run commercial banks," Rachid said after the talks in Cairo with Russian Trade and Industry Minister Viktor Khristenko.

Rachid said Russia had also offered to help construct and maintain the plant.

"We welcome such proposals from Russia," the minister said.

Topics: NPP, Africa, Egypt, Russia

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