Egypt signs agreement to build nuclear reactor

June 18, 2009 23:21

Egypt's official news agency says the country has signed a 10-year consulting agreement with Australia's WorleyParsons (WOR.AX) to help build its first nuclear reactor. Thursday's report quotes Prime Minister Ahmed Nazif as saying the 900 million Egyptian pound ($161 million) agreement is a step toward Egypt entering an era of peacefully using nuclear technology. Egypt's Electricity Ministry said last month it dropped US construction giant Bechtel as a consultant for the project without giving reasons. But local reports suggested the deal stalled over operation terms. The entire project is expected to cost between $1.5 billion and $1.8 billion. It is part of plans to diversify Egypt's energy resources and preserve the country's oil and gas.

Related Content

Breaking news
August 19, 2019
Spain says no deal with Italy on migrants, offers its ports


Cookie Settings