Russian Prime Minister Dmitry Medvedev has signed an agreement to build Jordan’s first nuclear power plant. It will be a joint project with Russia’s Rosatom nuclear power corporation.
"The construction and operation of nuclear power plants (NPP) will be financed with investments attracted in the markets of Russia, Jordan and third countries", says the agreement.
The Cabinet believes the project will have "a positive impact on the development of the Russian nuclear industry and will provide long-term work for the nuclear industry of the country."
The nuclear power plant in Jordan will have two reactors, each with the capacity of 1000 MW. The first is expected to start operating in 2024, and the second in 2026.
The area where the plant is to be built is an area with little chance of earthquakes.
Jordan announced a tender for the construction of its first nuclear power plant in January 2011. In October 2013 Rosatom was declared a "preferred bidder" for the construction.
Rosatom subsidiary Rusatom Overseas and the Atomic Energy Commission of Jordan agreed the project during the 58th General Conference of the IAEA on September 22.
The project will be run as a ‘build-own-operate’ scheme. The two countries will create a joint venture in which a controlling stake of 50.1 percent will be owned by Jordan, and Rosatom will have 49.9 percent. Investments will be made in proportion to each partner's share.