UAE to build nuclear power reactor
Abu Dhabi, April 20, 2008
The UAE plans to build a nuclear power reactor and set up a nuclear energy programme implementation organisation with an initial $100 million in capital, a foreign ministry official said.
The first phase of the programme will be carried out with foreign assistance, and offer joint-venture arrangements to foreign investors for construction and operation of future nuclear power plants, said Hamad al-Kaabi, representative of the Ministry of Foreign affairs for international nuclear cooperation.
He did not give more details.
"Nuclear power is proving an option that that UAE can't ignore because it's cost competitive," Al-Kaabi said, adding that by 2020, natural gas will be insufficient to meet the country's energy requirements.
The UAE will also set up an independent regulatory authority for nuclear power, he added. - Reuters