Posted by South Korea to work with Russia on Egypt’s first nuclear power plant
The move further cements Egypt and South Korea’s strong economic and defense ties.
In this handout provided by the Korea Hydro and Nuclear Power company, workers participate in an anti-cyber attack exercise at Wolsong power plant on Dec. 22, 2014, in Gyeongju, South Korea. – Korea Hydro and Nuclear Power Co. via Getty Images
August 25, 2022
A South Korean company will soon start work on Egypt’s first nuclear power plant. The East Asian country has good relations with Egypt as well as other countries in the Middle East.
South Korea’s state-run Korea Hydro and Nuclear Power won a $2.25 billion contract from an affiliate of Russia’s state-run nuclear energy company Rosatom. Korea Hydro and Nuclear Power will provide materials and equipment for and construct the plant’s turbine building, The Associated Press reported today.
The country’s ambassador in Cairo praised the move as South Korea’s successful entry into the international nuclear power market, Egypt Today reported.
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What it means: Last month, Egypt’s Nuclear and Radiological Regulatory Authority licensed the construction of a nuclear power plant in Dabaa, northwest of Cairo. The authority contracted Rosatom for the project.
Russia is a nuclear powerhouse and there are dozens of nuclear power plants in the country.
Why it matters: South Korea and Egypt have good relations. This week, the South Korean manufacturing firm Hyundai Rotem agreed to build subway carriages in Egypt. In February, the two countries signed an arms deal.
South Korea has strong relations with other countries in the region as well, including in the nuclear power sector. South Korea also helped construct the United Arab Emirates’ Barakah nuclear power plant.
A South Korean company also built Turkey’s fourth offshore drilling ship. In January, several Korean companies signed cooperation agreements with Saudi Aramco.
Know more: Unlike its allies in the Gulf, Egypt is not particularly rich in oil and gas. The Egyptian government unveiled a plan to reduce electricity consumption this month in an effort to save gas. Egypt is also exploring renewable energy sources such as wind power.
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