Wednesday, March 26, 2008

In the Shadow of Other Pyramids

Russia is proving to be quite the power station broker, now adding Egypt to its portfolio of customers, following Iran, China and India.

Egypt wants up to four nuclear power stations and an international tender to build the first of them may come as early as this year. Tuesday’s agreement clears the way for Russia’s state nuclear contractor to bid for work.

The Kremlin is lobbying hard for nuclear contracts abroad because it sees the industry as a high-technology sector it must develop, to reduce its dependence on oil and gas exports.

There's a whiff of politics, though whether from the Kremlin or the (Pakistani) news source is hard to determine. Russia wants to be a major player in the upcoming Middle East peace talks, but building out this industrial niche would seem the longer range goal.

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