FINANCIAL NEWS

Saudi Arabia considers uranium enrichment

17 Jun 2010

(MENAFN) Saudi Arabia is expected to extract and enrich uranium to fuel power plants, if the country embarks on a civilian nuclear energy program, a consultant said, Reuters reported.

David Cox, President for energy at the UK branch of Finnish management consultancy Poyry, said that Saudi Arabia would plans to play a role in as many of the stages of generating nuclear power as possible eventually, but initially outsourcing will happen.

The kingdom instructed Poyry to evaluate the economic and technical feasibility of its involvement in all stages of the nuclear power generation cycle, Cox said, adding that the country wants to be involved in as many aspects as possible and the study is to evaluate what part of it is possible at a reasonable economic cost.

Poyry’s study will be completed in the coming few months and will include an overall strategy from technical, economical and institutional dimensions for starting the development of nuclear plants, he said.

It is worth mentioning that UAE became the first country in the Gulf Arab region to embark upon a nuclear power generation program last year. But the country decided from an early stage to import fuel for the plants, as it sought to reassure the international community it had no military intentions with its program.

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