Nuclear Giants in Talk with UAE

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In March the UAE announced it had created an agency to establish a nuclear power industry, and would seek international investors. The UAE has no plans to enrich uranium and will instead depend on outside sources to provide it with nuclear fuel, according to the government.

“We are talking to the UAE government about what we can do with nuclear energy. We certainly have engaged in discussions,” Nabil Habayeb, president and CEO, Middle East and Africa, for General Electric, told Arabian Business in an interview.

In March the UAE announced it had created an agency to establish a nuclear power industry, and would seek international investors. The UAE has no plans to enrich uranium and will instead depend on outside sources to provide it with nuclear fuel, according to the government.

The agency will have a $100 million budget to manage the nuclear programme. It was reported on August 17 that the UAE had invited companies to bid for a contract to manage its nuclear power programme, and would award the contract by year-end.

Power demand in the UAE is surging as it uses record oil revenue to develop new industries and infrastructure. Abu Dhabi, the biggest of the UAE’s seven emirates, will need to build additional power capacity this year to avoid a blackout in 2012, according to a recent report.

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