Russia eyes nuclear power deals in Egypt, Nigeria

By Oleg Shchedrov

ABUJA, June 24 (Reuters) - Russia wants to help develop nuclear power plants in Egypt and Nigeria and take part in uranium exploration there, the head of Russia's nuclear energy agency Rosatom said on Wednesday.

Sergei Kiriyenko, in Nigeria with Russian President Dmitry Medvedev as part of a four-day Africa trip, said Egypt planned two to four reactors at its first nuclear power station and that Russia would prepare a tender proposal by the end of 2010.

Kiriyenko, who was in Cairo with Medvedev on Tuesday, said the financing of such projects generally involved a deal on export credits, and said Russia was interested in Egypt's uranium reserves.

"We are definitely interested in uranium. They surely have much uranium, though most of it is located unfortunately in mountainous areas," he told reporters.

He said the starting price for a reactor was generally around 2.5 billion euros ($3.5 billion).

Egypt said two years ago it would build several nuclear power stations to meet its growing energy needs and has had nuclear cooperation offers from China, Russia, France and Kazakhstan.

Australia's WorleyParsons (WOR.AX: Quote, Profile, Research) last week signed a nuclear power pact consultancy contract with Egypt worth around $160 million. [ID:nLI452296]

Russia is also expected to sign a nuclear energy pact with Nigeria during the Abuja stage of the Africa trip, Nigerian and Russian officials have said.