US firms explore nuclear investment opportunities in Saudi

A delegation of US businessmen has met with a number of Saudi businesspeople to explore the investment opportunities in civilian nuclear power projects in Saudi Arabia, according to a statement on the official SPA.

The meeting, which was held at the Asharqia Chamber of Commerce, was held to boost cooperation between the two countries, which reached its highest level after Crown Prince Mohammed bin Salman’s visit to the United States last month, said Hamad Albuali, the chamber’s vice president.

Saudi Arabia aims to build 17.6 gigawatts (GW) of nuclear capacity by 2032, the equivalent of around 16 reactors, in its effort to diversify energy resources.

The Kingdom expects to prequalify by next month bidding firms for the first nuclear reactors it plans to build, Reuters reported in January.