South Africa in $50 billion deal for Russian nuclear reactors

Russia’s state-owned nuclear company Rosatom has signed a historic, $50 billion agreement with South Africa to build a large-scale nuclear power plant in the African state and develop collaboration in other areas of nuclear industry. Rosatom said Monday it will provide up to eight nuclear reactors to South Africa by 2023. South Africa, the continent’s most industrialised nation, currently has only one nuclear power plant. It is heavily dependent on coal for its energy supply and its electricity capacity is already near the maximum.

This agreement opens up the door for South Africa to access Russian technologies, funding, infrastructure, and provides a proper and solid platform for future extensive collaboration

South African Energy Minister Tina Joemat-Pettersson

The inter-governmental agreement, signed in Vienna on the margins of the International Atomic Energy Agency conference, also calls for Russia to help build infrastructure in South Africa and train African specialists at Russian universities. Rosatom will create thousands of jobs in South Africa as part of the deal which will be worth “at least 10 billion dollars” to local industry, Rosatom director general Sergey Kirienko said in a statement. Under the agreement Russia is to welcome South African nuclear specialists in its universities.

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