Politics
Madbouly Highlights Declining Inflation, Rising Reserves, and Progress at Dabaa Nuclear Plant
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Madbouly Highlights Declining Inflation, Rising Reserves, and Progress at Dabaa Nuclear Plant
Egyptian Prime Minister Mostafa Madbouly reported improvements in economic indicators and ongoing efforts to secure energy supplies during a press conference.
- Madbouly said inflation has decreased and foreign reserves have increased.
- Madbouly stated he chairs continuous meetings to secure Egypt's energy needs.
- Madbouly announced the installation of the reactor pressure vessel for the second unit at the Dabaa nuclear plant, which is scheduled to begin operation by the end of 2028.
- Madbouly added that Egypt will have four nuclear plants operational by 2030.
Latest developments
- Jul 15 — Madbouly announced that Egypt's foreign exchange reserves have surpassed $55 billion for the first time, an increase of about $2 billion in one month.
What happened since
Madbouly outlines El Dabaa nuclear plant output and New Alamein's year-round strategy
Egyptian Prime Minister Mostafa Madbouly said the El Dabaa nuclear plant will produce 4.8 GW and that New Alamein City will host international events starting October.
- Madbouly said the El Dabaa nuclear plant will generate 4.8 gigawatts of electricity upon completion, with construction costs recouped within 12 years.
- Madbouly stated that New Alamein City is designed as a year-round integrated city, not a seasonal summer resort, with thousands of permanent jobs.
- Madbouly announced that New Alamein will host African and international events starting October, boosting hotel occupancy rates throughout the year.
- Madbouly inspected the International Conference and Exhibition Center and the museum garden in New Alamein, directing completion of landscaping works.
Egypt sets 2030 target for full operation of Dabaa nuclear plant
Prime Minister Mostafa Madbouly has confirmed the government's timeline for bringing all four reactors at the Dabaa nuclear plant online by 2030.
- Madbouly announced that electricity production from the Dabaa plant is expected to begin by the end of 2028.
- He said work on the second reactor's core has been completed, with all four reactors scheduled to operate by 2030.
- Madbouly stated that accelerating the entry of renewable energy projects into service will reduce Egypt's need to import conventional fuels.
- He noted that he holds weekly follow-up meetings with the electricity minister to review the implementation of renewable energy projects.
Coverage
Read the original reportingThis brief was compiled from 2 outlets, over 9 hours of coverage. Each is listed below with the headline it led on, so you can compare them yourself.
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