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Publish Date : 22-Dec-2011

Over the next few years, Saudi Arabia has plans to invest over $100bn developing 16 nuclear energy plants, said a Abdullah Zainal Alireza, Commerce and Industry Minister, at a Saudi-US business forum in Atlanta.

Further, he added that the kingdom was interested in developing solar and other renewable energy technologies which will help in reducing dependence on oil and gas. Allocation of $3bn is being done to produce solar energy panels in Jubail and Yanbu.

Earlier, Saudi Arabia had announced that it will start with the tendering procedure to build the first nuclear station by the end of next year. The exact location will be revealed by March.

In order to address the rising domestic demand for electricity, Saudi Arabia and the UAE are investing in nuclear power.

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