ABU DHABI // Russia will be among the suppliers of enriched uranium needed for the UAE’s nuclear power plant, the Russian State Atomic Energy Corporation confirmed.
The 15-year commercial contract between Rosatom and the Emirates Nuclear Energy Corporation could also result in further collaboration.
“Six leading international nuclear fuel suppliers have been contracted to provide a series of nuclear fuel services to cover Enec’s requirements, these include Russian company Tenex, part of Rosatom, who will provide uranium concentrates, conversion services and enrichment,” an Enec spokesman said.
“We are constantly meeting to try to understand how we can help with the current project of the nuclear power plant in Barakah,” said Anton Moskvin, Rosatom’s vice president of marketing and business development. “The actual deliveries will start next year, because you need several years to prepare fuel for the power plant itself. It will be produced in Korea and delivered, so we have only one year left to do that.”
He said the UAE was a strong player on the international nuclear market. “We want to be strategic partners and a part of this very positively developed nuclear project, not just the construction of one power plant,” he said. “I think everyone wants to be a part of this kind of project.”
Mr Moskvin was speaking on Wednesday on the sidelines of a Middle East nuclear power briefing where experts convened to discuss regional opportunities in the industry.
“You need to have a good mix,” said Dominic Holt, director of deals in capital projects and infrastructure at Pricewaterhouse-Coopers. “I’m not advocating one technology over another but, around the world, people are looking into getting security of supply and low-carbon environmental certainty as well as the price. GCC governments are very focused on a green economy and where the power is going to come from as well as whether we are making best use of oil and gas resources, so it’s also about balance.”
He said nuclear sat well within that balance, along with solar and wind. “It’s low carbon and could be cheaper if we can build [power plants] well and there is a security of supply, because uranium is very abundant,” he said. “In the GCC, we also have the water element and it’s very important because we need to produce a lot of it. Nuclear has some advantages because if you’re building solar, you get the power in the day and you need that during the peak load, while with nuclear, you could actually take the power during the day for the peak loads and divert it to the night when the loads are lower to work independent desalination plants.”
Lady Barbara Judge, former head of the UK Atomic Energy Agency, said women could play a major role in improving trust in nuclear.
“Educated women are often the loud voices against nuclear in countries like the UK, Italy and France,” she said. “Whereas in this region, it is educated women who are for nuclear. What the industry needs is to have, in every country and on every nuclear power plant that is built, including the UAE, an oversight body that includes women so that they can speak as senior leaders for the inclusion in the energy mix.”
cmalek@thenational.ae
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Company%20Profile
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
COMPANY PROFILE
Name: HyperSpace
Started: 2020
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
Based: Dubai, UAE
Sector: Entertainment
Number of staff: 210
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
COMPANY%20PROFILE%20
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%3A%3C%2Fstrong%3E%20Eco%20Way%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%20December%202023%3Cbr%3E%3Cstrong%3EFounder%3A%3C%2Fstrong%3E%20Ivan%20Kroshnyi%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%2C%20UAE%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Electric%20vehicles%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Bootstrapped%20with%20undisclosed%20funding.%20Looking%20to%20raise%20funds%20from%20outside%3Cbr%3E%3C%2Fp%3E%0A
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Origin
Dan Brown
Doubleday
Company%20profile
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Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
U19 WORLD CUP, WEST INDIES
UAE group fixtures (all in St Kitts)
- Saturday 15 January: UAE beat Canada by 49 runs
- Thursday 20 January: v England
- Saturday 22 January: v Bangladesh
UAE squad:
Alishan Sharafu (captain), Shival Bawa, Jash Giyanani, Sailles
Jaishankar, Nilansh Keswani, Aayan Khan, Punya Mehra, Ali Naseer, Ronak Panoly,
Dhruv Parashar, Vinayak Raghavan, Soorya Sathish, Aryansh Sharma, Adithya
Shetty, Kai Smith
Dengue%20fever%20symptoms
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The specs
Engine: 2.0-litre 4-cyl turbo
Power: 247hp at 6,500rpm
Torque: 370Nm from 1,500-3,500rpm
Transmission: 10-speed auto
Fuel consumption: 7.8L/100km
Price: from Dh94,900
On sale: now
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.
When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.
How to get there: Emirates currently flies from Dubai to Orlando five times a week.
WHAT%20MACRO%20FACTORS%20ARE%20IMPACTING%20META%20TECH%20MARKETS%3F
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