Egypt, Russia Sign $30-Billion Pact to Build First Nuclear Plant in North Africa

Egypt and Russia have reached a $30-billion agreement to build the first nuclear plant in North Africa, marking Moscow’s latest effort to expand its sway in the region.

On Monday, Presidents Vladimir Putin and Abdel-Fattah El-Sisi participated in the deal signing ceremony in Cairo.

Bloomberg reports:

The project increases Russia’s economic presence and political influence in the Middle East, already on the rise since Putin intervened in Syria’s war in 2015 and began a more active role in Libya, conflicts where he and El-Sisi see eye to eye. The Cairo visit comes less than two weeks after the countries said they were in talks to use each other’s military air bases.

Praising Cairo’s growing ties with Moscow, Sisi told reporters the relationship is rooted in “strength and continuity” on regional and financial matters.

Egypt is the second-largest consumer of energy in Africa after South Africa, home to the only nuclear power plant on the continent.

According to the Egyptian leader, he and his Russian counterpart agreed to “settle any hurdles confronting the projects we plan to implement.”

Moscow and Cairo agreed to begin working on the North Africa-based nuclear power project about three years ago, but the deadly Islamic State (ISIS/ISIL)-linked bombing that downed the Russian airliner over Egypt in 2015 has delayed progress.

The attack left 224 vacationers dead, dealing a significant blow to Egypt’s tourism industry.

Nevertheless, Russian Transport Minister Maxim Sokolov recently said the two countries have reached a draft agreement to resume direct Moscow-Cairo flights.

In March, U.S. Africa Command (AFRICOM) warned that Russia’s involvement in Egypt’s next door neighbor, Libya, “is very concerning.”

Instability in Libya translates to insecurity in neighboring Egypt, U.S. State Department officials recently warned American lawmakers.

“Egypt’s 750-mile border with Libya represents an additional security challenge. For Cairo, instability in Libya and the potential for ISIS to regroup in Libya represent critical threats to Egyptian security,” declared Joan Polaschik, the principal deputy assistant secretary for State’s Bureau of Near Eastern Affairs.

As it losses territory and influence in its so-called caliphate in Iraq and Syria, ISIS is reportedly expanding its foothold in North Africa.

“ISIS is on the ropes in Iraq and Syria. But as the group loses control over territory in its core, it is essential that we prevent it from reconstituting itself elsewhere. In particular, ISIS maintains networks in North Africa that seek to conduct or inspire attacks on the continent, in Europe, and against U.S. interests,” Nathan Sales, the ambassador-at-large for State’s counterterrorism bureau, testified before Senate panel this month.