The UAE has awarded $3billion (£1.9billion) to six foreign firms to supply fuel for the Arab state’s first nuclear power plant.
The Barakah plant, located west of Abu Dhabi, is expected to have fuel supply covered for the first 15 years of its operation.
The UAE’s nuclear regulator granted the Emirates Nuclear Energy Corporation (ENEC) a licence to construct the country’s first two nuclear reactors earlier this year.
Mohamed Al Hammadi, Chief Executive at ENEC said: “These contracts will provide ENEC with long term security of supply, high-quality fuel and favourable pricing and commercial terms.”
The agreements were signed with British firm Rio Tinto, France’s Areva, US-based ConverDyn, Canada’s Uranium One, Russia’s Tenex and Urenco, with the fuel supply expected to begin in 2014-15.
ENEC has plans to build four 1400MW nuclear energy units at the Barakah site and the first is expected to produce electricity by 2017.