FINANCIAL NEWS

UAE signs civil nuclear deal with UK

26 Nov 2010

(MENAFN) The UAE has signed a deal with the UK, agreeing to cooperate on civil nuclear work, and build four nuclear reactors in an effort to meet increasing energy demand, Reuters reported.

Emirates Nuclear Energy Corporation (ENEC) revealed that it had selected Credit Suisse to act as financial advisor for the mentioned project.

According to UAE officials, annual peak demand for electricity is likely to rise to more than 40,000 megawatts by 2020, reflecting cumulative annual growth of about 9 percent

UK Ambassador to Abu Dhabi, Dominic Jeremy, revealed that four agreements were signed, including one that covers cooperation on visa and consular affairs.

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