CAIRO, Aug. 22 (UPI) -- Egyptian President Hosni Mubarak is preparing to announce plans to construct the country's first nuclear power plant, an official said.
An unnamed source told the Egyptian newspaper Al Masry-al-Youm Mubarak is likely to name Dabaa as the site for the country's first nuclear power plant Monday.
The area located northeast of Cairo has one of the best Mediterranean beaches and a decision to build the nuclear energy plant there has been criticized by local businessmen, the newspaper said.
Earlier this month, Electricity and Energy Minister Hassan Younes said plans were under way to start an international bidding process to build the plant.
Putting the project out to international tender should ensure that Egypt gets the best price for the construction of the station, estimated to be about $4 billion, the report said.
Among the firms mentioned by the newspaper are French nuclear reactor maker Areva, the French engineering group Alstom and the U.S.-based Westinghouse Electric Co., the paper said.
Officials estimate the nuclear plant will increase Egypt's power capacity of up to 4,000 megawatts by 2025, the paper said.