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FINANCIAL NEWS
Egypt to continue with nuclear plant bid
10 Mar 2011
(MENAFN) The Electricity Minister of Egypt, Hassan Younes, said that despite the recent political turmoil, his country is planning to proceed with a bid for building its first nuclear power plant, reported Arab News.
Younes said that Egypt is trying to diversify away from oil and gas and is looking for other energy sources. It aims at constructing 4 nuclear plants by 2025, with the first to begin operating in 2019.
The minister said that the Orascom Construction Industries had established a joint venture with Arab Contractors to bid on nuclear projects in the Middle East, including Egypt’s first nuclear power plant, which would be located at the country’s Mediterranean coast.
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