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FINANCIAL NEWS
Saudi Arabia inks nuclear cooperation with S. Korea
16 Nov 2011
(MENAFN) Saudi Arabia signed a nuclear cooperation pact with South Korea for nuclear power development in the kingdom, Bloomberg reported.
On behalf of the kingdom, Hashim Abdullah Yamani, president of King Abdullah City for Atomic and Renewable Energy signed the accord with South Korea’s Minister of Foreign Affairs and Trade Kim Sung-Hwan in Seoul.
Saudi Arabia, owner of the world’s largest oil reserves, signed nuclear agreements earlier this year with France and Argentina.
King Abdullah City said in a statement that Saudi Arabia is in talks with China, Russia, US, Britain and the Czech Republic regarding nuclear cooperation.
It is worth mentioning that Korea Electric Power Corp. (KEP) was granted a contract in 2009 to build four nuclear plants in the UAE, expected to finish between 2017 and 2020.
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