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    market news

    UAE pushes on with plan for first nuclear reactors

    Investing News Network
    Dec. 27, 2010 05:44AM PST
    Long Tail

    AP reports UAE’s state nuclear company plans to build its first nuclear power plant.

    AP reports UAE’s state nuclear company plans to build its first nuclear power plant.

    The market news is quoted as saying:

    The Emirates Nuclear Energy Corporation announced the filing of the roughly 9,000-page regulatory application Monday — a year after it awarded a South Korean consortium led by Korea Electric Power Corp. the $20 billion contract for the project.

    The application to the UAE’s Federal Authority for Nuclear Regulation is based largely on previous work done for reactors in South Korea that will serve as a reference for the Emirati plants. ENEC says that should ensure that its plants are “essentially the same” as the Korean reactors, which have been granted licenses by regulators in that country.

    Click here to access the entire news.

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