Russia and Egypt on Tuesday signed an agreement allowing Russian firms to bid for lucrative deals to build nuclear power plants in Egypt. “We signed an inter-governmental agreement on cooperation in the peaceful use of nuclear energy,” Russian President Vladimir Putin told reporters at his residence outside Moscow after talks with Egyptian leader Hosni Mubarak which also covered Mideast tension. “It opens up new horizons for our bilateral cooperation.” Egypt plans up to four nuclear power stations and an international tender to build the first of them may come as early as this year. Tuesday's agreement clears the way for Russia's state nuclear contractor to bid for work. The Kremlin is lobbying hard for contracts to build nuclear power plants abroad because it sees the industry as the type of high-technology sector it must develop to reduce its dependence on oil and gas exports. Russia is already building nuclear reactors worth $1.5 billion to $2 billion apiece in Iran, China and India. Russia is close to completing Iran's controversial first nuclear facility in Bushehr, and also recently signed a contract for a reactor in Bulgaria. It is keen to reestablish a commercial and diplomatic presence in the Mideast. __
