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UAE's atomic programme to cost $30bn

Sources say joint nuclear venture will cost $30bn

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UAE's nuclear programme could cost $30bn. (Getty Images)
UAE's nuclear programme could cost $30bn. (Getty Images)

The UAE’s nuclear power programme will cost in the region of $30bn, a Reuters report has stated.
The programme is a joint venture between the state-owned Emirates Nuclear Energy Corp and Korea Electric Power Corp, and two sources quotes by Reuters have said that that the financing will be split into one-third equity and two-thirds debt.
According to the sources, Abu Dhabi will provide most of the $10bn equity, and $10 of the debt is likely to come from export-credit agencies. The rest will be a mix of bank financing and sovereign debt.
Official sources say that financing decisions haven’t yet been made, but that the structure will be decided by the end of the month.
 

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