Russia and Egypt have signed an inter-governmental agreement in Cairo on the construction of a nuclear power plant in Egypt, Russian state nuclear corporation Rosatom said in a statement.

The plant will have four 1,200 MW generating units, said Sergei Kiryenko, the head of Rosatom.

Kiriyenko signed the deal on cooperation in the construction and operation of the plant with Egyptian Minister of Electricity and Renewable Energy Mohamed Shaker in the presence of Egyptian President Abdel Fattah al-Sisi.

This is a very important document that sets out the parameters for the first Egyptian NPP, which will be built with Russian technology, Kiriyenko said.

"We have also agreed to intensify work on future development of nuclear infrastructure in Egypt," Kiriyenko said, adding that Rosatom is offering a reference plant that meets all of the latest international safety standards.

The countries have also signed an intergovernmental agreement on the joint work of their oversight agencies. The documents spell out issues concerning nuclear fuel supplies to the future plant and obligations concerning the operation, maintenance and repair of the plant's generating units. The document also regulates issues concerning the handling of spent nuclear fuel, training of the nuclear plant's personnel, and assistance to Egypt in improving its system of rules and standards in the area of nuclear energy and nuclear infrastructure.

The countries assume that the project will be carried out over 12 years, Rosatom said.

Kiriyenko said that the NPP in Dabaa will be the two countries' biggest joint project since the construction of the Aswan dam. This is "truly a new page in the history of Russian-Egyptian international relations," he said.

"The first nuclear plant will make Egypt a regional technology leader and the only country in the region with a generation 3+ NPP," Kiriyenko said, adding that the first Russian specialists are now at the site in Dabaa, equipment will arrive at the site in early December and survey work will begin. The first students from Egypt will begin studying at the National Nuclear Research University MEPhI in 2016.

Kiriyenko told reporters earlier that the possibility of extending a Russian loan is being discussed. "The construction of such facilities, as a rule, is linked to provision of an export credit. Yes, such an option is being discussed," he said. The standard percentage of Russian financing for construction of a nuclear power plant is 70-80%, he added.

An agreement on the development the project to build an NPP in Egypt was signed in Cairo in February.

The Egyptian authorities said in August 2010 that they intend to build an NPP in El Dabaa on the Mediterranean coast and expect to start operating the first generating unit in 2019. The construction of the first unit was to be followed by the construction of another three reactors that were tentatively scheduled for launch in 2025.