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FINANCIAL NEWS
Saudi Arabia to sign nuclear deal with France
06 Jul 2010
(MENAFN) The Saudi Cabinet has agreed to sign a nuclear cooperation accord with France, which could open the way for French help in developing civil nuclear power in the Kingdom, SPA reported.
The agreement is for the development of peaceful uses of nuclear energy, the Cabinet announced after its weekly meeting.
The pact was first proposed by French President Nicolas Sarkozy in talks with King Abdullah, Custodian of the Two Holy Mosques, in June 2007 in Paris, and the French side submitted a draft when Sarkozy visited Riyadh in January 2008.
The agreement was delayed while Riyadh undertook last year a formal review of its nuclear policy, which resulted in the April 2010 announcement that the Kingdom would establish a new research center on nuclear and renewable energy.
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