KEPCO is a major player in South Korea's nuclear industry and its expertise would help in Abu Dhabi's plans to build four reactors.
KEPCO is a major player in South Korea's nuclear industry and its expertise would help in Abu Dhabi's plans to build four reactors.

UAE's nuclear future takes a step forward



The Korea Electric Power Company (KEPCO) plans to announce more than US$10 billion (Dh36.73bn) of construction and engineering subcontracts in the next two months as part of plans to build four nuclear reactors in Abu Dhabi, a senior executive said. They will be the first major awards after KEPCO won a $20.4bn master contract in December to develop the Gulf's first nuclear power reactors. It beat bids from French companies and a US-Japanese consortium to provide the reactors, which are to be completed between 2017 and 2020 on an unidentified coastal zone in the emirate.
"We are negotiating with bidders now," said Byun Jun-yeon, KEPCO's executive vice president for overseas business. "The value of the package of contracts will be more than half of the total project cost." KEPCO's winning consortium included Samsung C and T, and Hyundai Engineering and Construction of South Korea. Westinghouse of the US, Toshiba of Japan and Doosan Heavy Industries and Construction are all in line for significant subcontractor packages.
KEPCO would operate and maintain the reactors, Mr Byun said. "We have our own maintenance in-house and operations, so we don't need any outside service companies." But there are numerous opportunities for other companies. Mr Byun said three quarters of the value of the nuclear deal, or $15bn, would be outsourced to subcontractors for critical work and equipment such as instrumentation and components, steam generators, turbines and piping over the entire lifespan of the project. Up to 200 contracts could be awarded, he said.
A large proportion of the work is expected to go to small and medium-size businesses, a plan that was a major focus of the Korea-Abu Dhabi Business Forum held yesterday, featuring more than 400 representatives of Korean and local companies. The event was sponsored by the Abu Dhabi Department of Economic Development and sought to highlight opportunities for collaboration by the two countries in construction, health care, high-speed rail, clean energy, shipbuilding and semiconductors.
South Korean companies will go head to head with other nuclear energy specialists eager to have a share of the multibillion-dollar contracts. Last month, representatives of more than 40 US companies visited Abu Dhabi to gauge business opportunities. "Getting certified and approved on the Korean supply chain would be a big part of what this initial thrust is about," said Danny Sebright, the president of the US-UAE Business Council, who organised the trip.
For its part, KEPCO said it was committed to transparency throughout the process. "Our policy is we will procure these materials through international open bidding," Mr Byun said. While construction of the first reactor will not begin until 2013, a ceremonial groundbreaking on the site is expected to take place in June or July, followed by preliminary work such as site grading, environmental analysis and preparation for labour accommodation, Mr Byun said.
Since being awarded the contract, KEPCO has amassed a staff of 100 who are working on the UAE project in Seoul. Another 20 are based in Abu Dhabi, but this will increase to 50 by the end of the year, Mr Byun said. The final value of the four nuclear reactors could grow beyond the initial $20.4bn quote, he added. Factoring in inflation, the cost could increase by 3 per cent per year over the 10-year construction phase, he said. The current figure is an "overnight cost" estimate, or what the project would cost in today's dollars.
Abu Dhabi is considering building an additional four nuclear power plants, which would eventually bring its total to eight, but has not yet made any decisions.
igale@thenational.ae

Company Profile

Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000

COMPANY PROFILE

Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside

J Street Polling Results

97% of Jewish-Americans are concerned about the rise in anti-Semitism

76% of US Jewish voters believe Donald Trump and his allies in the Republican Party are responsible for a rise in anti-Semitism

74% of American Jews agreed that “Trump and the Maga movement are a threat to Jews in America"

The Specs

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Squads

India: Kohli (c), Rahul, Shaw, Agarwal, Pujara, Rahane, Vihari, Pant (wk), Ashwin, Jadeja, Kuldeep, Shami, Umesh, Siraj, Thakur

West Indies: Holder (c), Ambris, Bishoo, Brathwaite, Chase, Dowrich (wk), Gabriel, Hamilton, Hetmyer, Hope, Lewis, Paul, Powell, Roach, Warrican, Joseph

EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE

Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

Source: Emirates

ALRAWABI SCHOOL FOR GIRLS

Creator: Tima Shomali

Starring: Tara Abboud, Kira Yaghnam, Tara Atalla

Rating: 4/5

MATCH INFO

Champions League quarter-final, first leg

Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)

Matches can be watched on BeIN Sports

KEY DATES IN AMAZON'S HISTORY

July 5, 1994: Jeff Bezos founds Cadabra Inc, which would later be renamed to Amazon.com, because his lawyer misheard the name as 'cadaver'. In its earliest days, the bookstore operated out of a rented garage in Bellevue, Washington

July 16, 1995: Amazon formally opens as an online bookseller. Fluid Concepts and Creative Analogies: Computer Models of the Fundamental Mechanisms of Thought becomes the first item sold on Amazon

1997: Amazon goes public at $18 a share, which has grown about 1,000 per cent at present. Its highest closing price was $197.85 on June 27, 2024

1998: Amazon acquires IMDb, its first major acquisition. It also starts selling CDs and DVDs

2000: Amazon Marketplace opens, allowing people to sell items on the website

2002: Amazon forms what would become Amazon Web Services, opening the Amazon.com platform to all developers. The cloud unit would follow in 2006

2003: Amazon turns in an annual profit of $75 million, the first time it ended a year in the black

2005: Amazon Prime is introduced, its first-ever subscription service that offered US customers free two-day shipping for $79 a year

2006: Amazon Unbox is unveiled, the company's video service that would later morph into Amazon Instant Video and, ultimately, Amazon Video

2007: Amazon's first hardware product, the Kindle e-reader, is introduced; the Fire TV and Fire Phone would come in 2014. Grocery service Amazon Fresh is also started

2009: Amazon introduces Amazon Basics, its in-house label for a variety of products

2010: The foundations for Amazon Studios were laid. Its first original streaming content debuted in 2013

2011: The Amazon Appstore for Google's Android is launched. It is still unavailable on Apple's iOS

2014: The Amazon Echo is launched, a speaker that acts as a personal digital assistant powered by Alexa

2017: Amazon acquires Whole Foods for $13.7 billion, its biggest acquisition

2018: Amazon's market cap briefly crosses the $1 trillion mark, making it, at the time, only the third company to achieve that milestone

French Touch

Carla Bruni

(Verve)

How to wear a kandura

Dos

  • Wear the right fabric for the right season and occasion 
  • Always ask for the dress code if you don’t know
  • Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work 
  • Wear 100 per cent cotton under the kandura as most fabrics are polyester

Don’ts 

  • Wear hamdania for work, always wear a ghutra and agal 
  • Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
ROUTE TO TITLE

Round 1: Beat Leolia Jeanjean 6-1, 6-2
Round 2: Beat Naomi Osaka 7-6, 1-6, 7-5
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Quarter-final: Beat Marketa Vondrousova 6-0, 6-2
Semi-final: Beat Coco Gauff 6-2, 6-4
Final: Beat Jasmine Paolini 6-2, 6-2

COMPANY PROFILE

Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures

Disturbing facts and figures

51% of parents in the UAE feel like they are failing within the first year of parenthood

57% vs 43% is the number of mothers versus the number of fathers who feel they’re failing

28% of parents believe social media adds to the pressure they feel to be perfect

55% of parents cannot relate to parenting images on social media

67% of parents wish there were more honest representations of parenting on social media

53% of parents admit they put on a brave face rather than being honest due to fear of judgment

Source: YouGov

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5