Russia Seeks Boosting Energy Projects in Egypt

On Monday, Russian Foreign Minister Sergei Lavrov indicated that Russia is Looking forward to boosting economic ties and energy projects in Egypt. 

In a joint news conference with Egypt's Minister of Foreign Affairs Sameh Shoukry after their meeting in Moscow on Oct. 4, Lavrov specifically underscored “the importance of the construction of Egypt’s first nuclear power plant and the creation of a Russian industrial estate in Egypt,” as well as “a free-trade zone between Egypt and the Eurasian Economic Union.” 

Lavrov affirmed: "We support all sincere efforts aimed at the flourishing and strengthening economic ties between Egypt and Russia in accordance with conventions concluded under the auspices of the United Nations."

"My Government attached considerable importance to boosting its investment in Egypt, particularly in the El Dabaa power plant," the Russian Foreign Minister noted.

"The construction work is being carried out in consultation with the relevant Egyptian committees," he revealed.

It's worth noting that the two countries have inked an agreement on the El Dabaa power plant under which Russia was to provide a $25 billion construction loan to Egypt.