Cairo-based Iskan Insurance Company seeks to contribute around $500,000 to the capacity subscription of a planned insurance pool designated to insure nuclear facilities and projects in Egypt.
Iskan has informed the Insurance Federation of Egypt and the constituent committee for the Egyptian nuclear insurance pool about its contribution plans, its managing director Hammam Badr told Amwal Al Ghad on Tuesday.
The anticipated Egyptian nuclear insurance pool will insure Egypt’s under construction first nuclear plant in Dabaa, west of Alexandria.
The plant will be built in Dabaa, a site in the north of the country that Egypt has been considering for a nuclear power plant on and off since the 1980s. It is due to be completed in 2022, and the first of its four reactors is expected to begin producing power in 2024.
The Egyptian government earlier in November signed an agreement with Russia to build Egypt’s first nuclear power plant at Dabaa, set to generate 4,800 megawatts through four units.
