As the Government prepares to shortlist the consortia it will invite to bid for contracts to build and operate the UAE's first atomic power plants, three state-owned South Korean companies have joined forces with a leading British engineering firm in a nuclear venture. Although the agreement was signed in London, it was reported by the UAE's official news agency, WAM, among others, suggesting the team could have this country's nuclear programme in its sights.
It followed news reports suggesting groups of companies led by French, South Korean, Japanese and US firms are all in the running to form a UAE nuclear development partnership that could be worth more than US$60 billion (Dh220bn). France is the only country that has signed all the treaties necessary to engage in nuclear trade with the UAE. But the US, Japan and South Korea have signed preliminary agreements that could be finalised if their nuclear teams make the shortlist.
However, a spokesman for Amec, the British engineering and project management firm, declined to confirm that this was on the new Anglo-Korean group's agenda. "It's early stages yet," said Frank Stokes, the company's media relations manager. "The locations of projects have not been finalised." In an announcement today preceding the start of the G20 summit in London, Amec said it had agreed to form a joint venture with Korea Electric Power, Korea Gas and Korea Development Bank to pursue "energy-related business opportunities and projects in South Korea and internationally".
Korea's ministry of knowledge economy said the group would seek to secure orders for nuclear reactors, according to WAM. tcarlisle@thenational.ae
