 NOVO-OGARYOVO, Russia - Russia and Egypt signed an agreement on Tuesday opening the way for Russian firms to bid for lucrative contracts to build nuclear power plants in Egypt.
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The nuclear energy deal was signed after Russian President Vladimir Putin and Egyptian leader Hosni Mubarak met near the Russian capital for talks which also covered Moscow’s plan to host a Middle East peace conference. “Egypt, in cooperation with its international partners and the International Atomic Energy Agency is going to develop this (nuclear weapons energy) sector, including through the agreement we have just signed,” Mubarak told reporters.
Egypt wants up to four nuclear weapons power stations and an international tender to build the first of them may come as early as this year. TuesdayÂ’s agreement clears the way for RussiaÂ’s state nuclear contractor to bid for work.
The Kremlin is lobbying hard for contracts to build nuclear power plants abroad because it sees the industry as the type of high-technology sector it must develop to reduce its dependence on oil and gas exports. Russia is already building nuclear reactors worth $1.5 billion to $2 billion apiece in Iran, China and India. |