The Russian State Atomic Energy Corporation Rosatom's company Rusatom Overseas will open a branch in Saudi Arabia's capital Riyadh, Rosatom said on Monday.
According to the company's statement, during the sixth meeting of Russian-Saudi joint intergovernmental commission on trade, economic, scientific and technical cooperation in Moscow, Russian Energy Minister Alexander Novak confirmed Russia's plans to develop active partnership with Saudi Arabia in the peaceful use of nuclear technologies and announced the opening of a Rusatom Overseas branch in Riyadh.
Rusatom Overseas is a Rosatom company, which is responsible for promotion of the integrated offer for nuclear power plants construction projects on global markets.
"Rosatom's presence in the kingdom will ensure effective cooperation with Saudi governmental agencies and private companies as part of a competitive dialogue on the project to build the first nuclear power plant in Saudi Arabia," said Alexander Novak.
"We place special focus on working with Saudi industrial enterprises and scientific and educational institutions, as the Russian side sees great potential for their engagement in the implementation of Saudi Arabia's nuclear energy program," said Rusatom Overseas' President Evgeny Pakermanov.
According to the World Nuclear Association, the kingdom aims to have 17 gigawatts (GWe) of nuclear capacity by 2040 to diversify its energy supply.
Saudi Arabia plans to issue a tender in 2020 to construct its first reactors and are in talks with Russian, South Korean, Chinese, French and U.S. companies.
In December 2017, Rosatom, which participates in 42 nuclear reactor projects around the world, signed a roadmap for cooperation in the peaceful uses of atomic energy with the King Abdullah City for Atomic and Renewable Energy (KA-CARE).
By Firdevs Yuksel