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FINANCIAL NEWS
Saudi plans to construct 16 nuclear reactors by 2030
30 Sep 2011
(MENAFN) King Abdullah City for Atomic and Renewable Energy’s consultant, Ebrahim Babelli, said that since the country planned to reduce the amount of crude it burned in generators to meet growing demand for power, the Kingdom would construct 16 nuclear reactors by the year 2030, reported Gulf News.
Babelli added that over the next two decades, the Kingdom might spend over USD100billion to build nuclear plants.
He also said that by 2028, domestic demand for oil and refined products would increase reaching 8.3 million barrels of oil equivalent a day from 3.4 million in 2010.
It is worth noting that the decision to build nuclear plants also came as Saudi aims to reduce reliance on oil for power and as a main source for economic growth.
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