Egypt Building Nuclear Reactor
Egypt has signed a 10-year agreement with an Australian firm to help build their first nuclear reactor. What could go wrong?
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.
I’m sure this has absolutely nothing to do with Iran’s nuclear program.
Frank says: