Russia will help Egypt build its first nuclear power plant under an agreement signed in Cairo last week.

The memorandum of understanding was signed by Sergei Kirienko, the head of Russia's state nuclear corporation, Rosatom, and Egypt’s Minister of Electricity and Renewable Energy Mohamed Shaker on 19 November, Rosatom announced.

The signing of the memorandum in Cairo, 19 November 2015, witnessed by Egypt’s president, Abdel Fattah al-Sisi (Rosatom)

Egypt’s president, Abdel Fattah al-Sisi, was on hand to witness the signing.

Rosatom told Russian media that the plant, consisting of four reactors, each capable of generating 1,200MW, is expected to be operational within 12 years.

Sergey Kirienko said the plant in Dabaa would be “the largest joint project between Russia and Egypt since Aswan dam project”.

“This is sincerely new page in history of Russian-Egyptian intergovernmental relations,” he said in a Rosatom statement, adding that would make Egypt a “regional technological leader”.

Photograph: The signing of the memorandum in Cairo, 19 November 2015, witnessed by Egypt’s president, Abdel Fattah al-Sisi (Rosatom)