UAE’s Barakah One Company, Korea’s Kepco eye new nuclear power deals
The two companies have worked alongside one another on the Barakah Nuclear energy plant. The plant is very close to being complete. It is situated 53km South West of Ruwais in UAE
A subsidiary of the Emirates Nuclear Energy Corporation, Barakah One Company, signed a Memorandum of Agreement with Korea Electric Power Cooperation to mark their joining of forces on the latest nuclear energy projects in various other nations.
The agreement was signed, by Mr. Nasser Al Nasseri, the CEO of Barakah One Company and Jong Kap Kim, the CEO and President at KEPCO, during the Congress in Abu Dhabi
The two companies have worked alongside one another on the Barakah Nuclear energy plant. The plant is very close to being complete. It is situated 53km South West of Ruwais in UAE. It marked South Korea’s very first foreign nuclear venture, and is significant because it paved way for the two nations to strengthen relations in numerous areas.
Nasser Al Nasseri stated how the firm intends to join forces with hopes of recognizing possible prospects to support the establishment of nuclear energy projects in various other nations which will reap advantages of the unique knowledge and skills generated at Barakah via the development of the Unites Arab Emirates Peaceful Nuclear Energy Programme.
According to the Memorandum of Agreement, the 2 firms will acknowledge a variety of sectors such as licensing and safeguards, investment and financing, training and the sharing of scientific and technical know-how regarding the nuclear energy sector, the fostering of experts, etc.
The statement added how the MoU is an expansion of the previously agreed upon Charter for Joint Business Cooperation signed by Barakah One Company, the firm heading the commercial and financial features of the Barakah project, and Kepco. It boosts cooperation through the nuclear business cycle, from including planning, construction and operations.