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FINANCIAL NEWS
UAE awards nukes fuel contracts to 6 suppliers
16 Aug 2012
(MENAFN) Emirates Nuclear Energy Corporation (ENEC) has awarded a group of international suppliers 15-year contracts to supply fuel to UAE’s nuclear reactors, Arabian Business reported.
ENEC said it has awarded the contracts to six suppliers at a total value of USD3 billion. The contracts include the purchase of natural uranium concentrates, uranium conversion and enrichment services and the purchase of enriched uranium, ENEC added.
The fuel contracts will enable the Barakah plant to generate up to 450 million MWh for a period of 15 years. The first reactor will be operational in 2017.
Starting in 2014-2015, US-based ConverDyn will provide conversion services; Canada’s Uranium One, Inc will provide natural uranium, UK-based URENCO will provide enrichment services and Rio Tinto will provide natural uranium.
Russia’s TENEX and French AREVA will supply uranium concentrates, conversion services and enrichment services.
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