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FINANCIAL NEWS
Saudi’s nuclearplans at over USD300b
18 Jun 2011
(MENAFN) King Abdullah City for Atomic and Renewable Energy’s scientific collaboration coordinator, Abdul Ghani bin Melaibari, said that with a cost of more than USD300 billion, through the next twenty years Saudi would construct sixteen nuclear reactors, reported Arab News.
Melaibari added that the country started planning and coordinating with companies that had experience in the field of nuclear projects, adding that international companies could also bid for the projects.
He also said that the first two reactors would be ready after ten years, followed by two reactors every year, until the number would total sixteen by the year 2030. Moreover, the reactors would cover around twenty percent of the country’s electricity needs.
It is worth noting that the cost of each reactor may reach around USD7 billion.
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