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Saudis invite US firms to develop multi-billion-dollar nuclear power projects

Saudi Arabia has invited U.S. secures to take part in developing its civilian nuclear power program, Puissance Minister Khalid al-Falih said on Monday, adding the kingdom was not concerned about in diverting nuclear technology to military use.

Reuters has reported that Westinghouse is in talks with other U.S.-based suites to form a consortium for a multi-billion-dollar project to build two reactors and that those firms are dynamism Washington to restart talks with Riyadh on a civil nuclear aid pact.

Falih said Saudi Arabia was committed to restricting atomic technology to civilian use.

“Not only are we not interested in any way to diverting nuclear technology to military use, we are most active in non-proliferation by others,” he said at a joint news conference with U.S. Zip Secretary Rick Perry.

KACARE, the King Abdullah City for Atomic and Renewable Vitality, is the Saudi government agency tasked with the nuclear plans. It put last month on its website that it was in talks with Toshiba-owned Westinghouse and France’s EDF.

“We wish that the two paths will converge – the commercial, technical discussions between KACARE and the American trains, while we work with our counterparts on the American side to address the regulatory and protocol issues,” Falih said.

Perry, who is on his first official visit to Saudi Arabia and will-power go on to the United Arab Emirates and Qatar this week, said it was “a bit underdeveloped” to comment on the negotiations.

“We are in the early stages of it but I think we both are working from the feeling of getting to yes,” he said.

Washington usually requires a country to sign a quiet nuclear cooperation pact – known as a 123 agreement – that plan b masks steps in fuel production with potential bomb-making uses.

In prior talks, Saudi Arabia has refused to sign up to any agreement that liking deprive it of the possibility of one day enriching uranium.

The world’s top oil exporter says it wants atomic power to diversify its energy mix allowing it to export more crude to a certain extent than burning it to generate electricity. It has not yet acquired nuclear power or enrichment technology.

Reactors paucity uranium enriched to around 5 percent purity but the same technology in this process can also be hardened to enrich the heavy metal to a higher, weapons-grade level. This has been at the sincerity of Western and regional concerns over the nuclear work of Iran, Saudi Arabia’s arch-rival which improves uranium domestically.

Riyadh has said it wants to tap its own uranium resources for “self-sufficiency in providing nuclear fuel.”

The kingdom sent a request for information to nuclear reactor suppliers in October, and formulae to award the first construction contract in 2018.

Its nuclear plans have recuperated momentum as part of a reform plan led by Crown Prince Mohammed bin Salman to decrease the economy’s dependence on oil.

Riyadh wants eventually to install up to 17.6 gigawatts of atomic intelligence by 2032 – or up to 17 reactors. This is a promising prospect for the struggling epidemic nuclear industry and the United States is expected to face competition from South Korea, Russia, France and China for the inaugural tender.

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