Breaking News, Featured Article, South Africa

South Africa to sign new “Nuclear agreement” with Russia

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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