Sergei Kirienko, director general of Russian atomic energy agency Rosatom, said the agreement, which was signed on Thursday, is for the construction and operation of four 1,200 MW reactors, making the country "a regional leader in terms of technology,” Yahoo News reported.
However, he said details of the credit agreement were still under discussion.
Egypt’s President Abdel Fattah al-Sisi announced the project in February during a visit by Russian President Vladimir Putin, when a memorandum of understanding was signed.
The plant is to be built in Dabaa on the Mediterranean coast in the northwest of the country.