UAE on the brink of US $40bn nuclear deal
French consortium in line to win blockbuster contract
Industry sources have claimed that a French consortium is on the cusp of winning a US $40 billion deal to build nuclear power plants in the UAE.
News agency Reuters has reported that an unnamed representative from the group, which consists of Areva, GdF Suez and Total, are leading the race to win the landmark contract.
"We think we are still well positioned to win it, we have the nuclear expertise," the source said.
"The winner will take it all, the bid was for two reactors originally but then they (UAE) wanted four and maybe six, whoever wins gets the whole package."
The other bidders include a consortium comprised of General Electric and Japan's Hitachi, and another of Korea Electric Power Corporation, Hyundai Engineering and Construction and Samsung C&T Corporation.
The news agency added that according to consultancy Wood MacKenzie, the proposed nuclear plant will likely provide about 3 percent of the power supply to the market in the UAE by 2020 with the start-up of about 1 GW of nuclear power, and by 2025 nuclear power will supply about 15 percent to the market.