Saudi Arabia to award nuclear contracts within a year: Minister

22/02/2018 Argaam

 

Saudi Arabia will start the tendering process for two nuclear reactor projects this year, energy minister Khalid Al-Falih said, adding that the project will be awarded within one year from now.
 
The two reactors will produce electricity at a competitive cost, Al-Falih told CNBC.

 

He added that Russia-based Rosatom Corporation will participate in the tenders for the nuclear projects.

 

Rosatom CEO Alexey Likhachyov has previously said that the company hopes to be awarded the contract to build Saudi Arabia’s nuclear plants, according to Reuters.

 

Companies from the US, South Korea, and France have also expressed interest over past months in helping build nuclear plants in the country.

 

Saudi Arabia is seeking to reduce domestic oil consumption and free up more crude for exports by harnessing renewable and nuclear power. The Kingdom aims to generate 17.6 gigawatts of electricity from nuclear sources by 2032.

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