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FINANCIAL NEWS
UAE eyes Bakra for nuclear complex
23 Apr 2010
(MENAFN) The Emirates Nuclear Energy Corporation (ENEC) announced that it has chosen Bakra in the west of the country as the preferred site to set up its planned nuclear power complex, Reuters reported.
The UAE plans to set up a complex of four nuclear reactors at Bakra on the Gulf coast, with a total capacity of 5,600 megawatts. In December last year, UAE?s government granted a South Korean consortium a $40 billion deal to build and operate the complex.
ENEC spokesman, Padriac Riley, said that the site was selected due its proximity to water and the power grid and distance from large population centers. The site, Bakra, was favorable for security, construction, potential evacuation and seismic history, he said.
Once the site gets approved by the government, preparation work would commence and the first concrete would be poured in 2012, Riley said. ENEC evaluated 10 sites for the complex, he said.
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25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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