RIYADH: Saudi Arabia plans to issue a multi-billion-dollar tender in 2020 to construct its first two nuclear power reactors and is discussing the project with US and other suppliers, three sources familiar with the plans said.
The world’s top oil exporter wants to diversify its energy mix, adding nuclear power so it can free up more crude for export.
Saudi Arabia, which aims to mine for uranium, says its plans are peaceful. US, Russian, South Korean, Chinese and French firms are in talks with Riyadh to supply reactors, a promising deal for an industry recovering from the 2011 Fukushima nuclear disaster.
“Saudi Arabia is continuing to make very deliberate steps forward although at a slower pace than originally expected,” one of the sources familiar with the plans said.
Saudi officials previously said they aimed to select a vendor in late 2018, which then slipped to 2019. The sources said the tender would now be issued in 2020.
Two sources said the project was proceeding slowly partly because the kingdom was still in discussions with all potential suppliers rather than narrowing them down to a short list.
Riyadh needs to sign an accord on the peaceful use of nuclear technology with Washington to secure the transfer of US nuclear equipment and expertise, under the US Atomic Energy Act. US Energy Secretary Rick Perry said last week that the negotiations which began in 2012 were continuing. — Reuters
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