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FINANCIAL NEWS
Algeria to set up first nuclear power plant in 2025
20 May 2013
(MENAFN) The Algerian Minister of Energy and Mines, Yousef Yousfi, stated that in order to meet growing demand for electricity, the North African country will establish its first nuclear power plant in 2025, reported Xinhua News citing official APS news agency.
Yousfi added that the use of nuclear power is part of the government’s renewable energy program aimed at diversifying energy sources and meet the rising demand for electricity.
He added that the Nuclear Engineering Institute will be responsible of providing the needed training for engineers and technicians prior to tasking them with the mission of running the plant.
It is worth noting that Algeria has 29,000 tons of uranium reserves, which are sufficient to set up 2 nuclear power plants, each with a capacity of 1,000 megawatts for a period of 60 years.
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BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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