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FINANCIAL NEWS
Japan agrees to assist Saudi Arabia in its nuclear endeavors
11 Feb 2013
(MENAFN) Japan has agreed to help Saudi Arabia to build nuclear power stations, as the Gulf Kingdom aims to generate 20 percent of its domestic electricity from nuclear plants, Japanese media reported.
According to The Asahi Shimbun, the deal was reached after industry minister Toshimitsu Motegi met with Waleed Hussain Abulfaraj, vice president of the King Abdullah City for Atomic and Renewable Energy in Riyadh.
The paper quoted Abulfaraj as saying that the government has laid out plans to have a fifth of its total domestic power supply come from nuclear plants by 2030, and asked for Japan’s cooperation.
The world’s largest oil producer, Saudi Arabia currently has no nuclear reactors, but it reportedly plans to build about 16 reactors because its oil consumption has been soaring as the population grows.
Motegi was also cited as saying that his government is willing to provide assistance including the acceptance of trainees from Saudi Arabia to nurture officials who will be responsible for operating reactors and developing related laws and regulations.
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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