(Dubai, UAE) The United Arab Emirates clinched a deal with a South Korean consortium to build and operate four nuclear power plants to provide electricity for the nation and for export while saving oil for export only.
The consortium, led by state-owned utility Korea Electric Power Corp (KEPCO), aims to complete the UAE’s four 1,400 megawatt reactors by 2020. Power generation will begin after 2017.Saudi Arabia is reportedly close to signing a deal with France for commercial nuclear power plants. However, some concern has been expressed regarding the availability of necessary expertise and equipment since the nuclear power industry worldwide has been fairly stagnant for the past two decades.
The US and the UAE have a nuclear cooperation pact and US-based firm Westinghouse Electric, a unit of Japan’s Toshiba Corp, was part of the winning consortium.
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