The Egyptians might be allied with the West during the conflict but their access to the Nile waters pretty much overrides any and all considerations.
While the destruction of the two Aswan Dams would devastate the country, a number of the military bases are not near the river itself and by the time the flood reached the lower parts of the Nile, it probably wouldn't be so damaging (Cairo might survive and Alexandria would probably be relatively unscathed)
That plus the mining centres in the Sinai and the towns on the Suez may provide enough resources to allow the Egyptians onto a war footing.
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