International competition to build two nuclear power plants in Saudi Arabia

International competition to build two nuclear power plants in Saudi Arabia

The Russian State Atomic Energy Corporation “Rosatom” has entered an international competition, to build two nuclear power plants in Saudi Arabia, with leading international companies, according to Rosatom’s executive vice president Kirill Komarov.

“We have submitted a bid for the construction of two nuclear power plants in Saudi Arabia, and we are competing with other leading international nuclear companies,” Komarov said in a press statement.

“The relationship between Saudi Arabia and Russia is progressing rapidly and strongly. In 2017, we signed a cooperation program for the peaceful use of nuclear energy, which is a roadmap that defines a full partnership between Moscow and Riyadh in a number of areas, besides the nuclear field.”

He also pointed to the agreement with the Saudi side on the development of small and medium-sized reactors, and to showing willingness to help train Saudi cadres in various stages of the Saudi nuclear program.

He stated that the value of the tender amounted to billions of US dollars; but a large part of the investment in nuclear power plants will return to the budget of Saudi Arabia; thanks to the localization of equipment and work.

“Every dollar invested in the construction of a nuclear power plant, with the Russian design, produces an average of about $ 2 of additional revenue for local businesses, about $ 1.5 in tax revenue under the tax system, and about $ 4 a contribution to GDP,” he explained.

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Aasem Abuzeid

Aasem Abuzeid is the Director for MENA Region. Aasem acts as a leading marketer in the Arabic speaking countries. He is also the administrator and developer of NBN.Media.