Finance
Russia, Ethiopia sign document calling for construction of nuclear plant
Published by Global Banking and Finance Review
Posted on September 25, 2025
1 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on September 25, 2025
1 min readLast updated: January 21, 2026
Russia and Ethiopia have signed an agreement to plan and construct a nuclear power plant in Ethiopia, with Rosatom and Ethiopian Electric Company leading the initiative.
(Reuters) -Russia and Ethiopia signed a document on Thursday calling for the planning and construction of a nuclear power plant in the east African country, RIA news agency quoted Rosatom, the state-owned Russian nuclear corporation, as saying.
An action plan on development and construction of the facility was signed during a nuclear power forum by the general director of Rosatom, Aleksei Likhachev, and Ashebir Balcha, CEO of the Ethiopian Electric Company, RIA said.
The document said the two sides agreed to create a detailed construction plan and a "road map" for the technical and economic foundation of the project and an intergovernmental agreement to proceed.
The agreement also calls for training for staff in operating the plant and developing the nuclear sector.
Earlier, Niger's mining minister, Ousmane Abarchi, said his country wanted to build two 2,000-megawatt nuclear reactors in partnership with Rosatom.
South Africa is the only country in Africa with an operational nuclear power plant, but reactors are under construction in Egypt
(Reporting by Reuters; Editing by Cynthia Osterman)
A nuclear power plant is a facility that uses nuclear reactions to generate electricity. It typically uses uranium as fuel, which undergoes fission to produce heat, which is then converted into electrical energy.
A partnership in business refers to a formal arrangement where two or more parties agree to manage and operate a business together, sharing profits, losses, and responsibilities.
Renewable energy is energy generated from natural resources that are replenished over time, such as solar, wind, hydro, and geothermal energy. It is considered more sustainable than fossil fuels.
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