South Africa to sign new “Nuclear agreement” with Russia

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Government plans to sign new, ‘more transparent’ nuclear power agreements with five foreign countries such as Russia, France, China, South Korea and the United States after the high court blocked a deal with Russia due to a lack of oversight.

South Africa signed intergovernmental agreements with Russia, France, China, South Korea and the United States in 2014 as part of plans to build a fleet of nuclear power plants at a cost of between $30 billion and $70 billion.

Many investors view the scale of the nuclear plan as unaffordable and a major risk to the country’s financial stability.

Opposition parties and civil rights groups says the deal will be used as a conduit for corruption by President Jacob Zuma and his rich friends.

Zuma denies allegations of wrongdoing as far as the nuclear deal is concerned.

 

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