Wednesday, October 21, 2009
worldtribune.com
U.S. firms set up shop in United Arab Emirates for major nuclear project
ABU DHABI — U.S. companies are opening up offices in the United Arab Emirates to compete for a $40 billion nuclear project. ShareThis
A range of U.S. suppliers have established a presence in the UAE capital of Abu Dhabi as part of efforts to win a slice of the huge nuclear energy program, Middle East Newsline reported. The UAE has been deemed the biggest opportunity in years for the global nuclear market.
"Once the government is ready, the awards will be issued rapidly," a Gulf industry source said. "This is clearly a UAE priority."
In December 2009, a U.S. business delegation plans to arrive in the UAE to assess opportunities in the nuclear energy project. Members of the U.S.-UAE Business Council and the Washington-based Nuclear Energy Institute were preparing to meet UAE ministers, business leaders and prospective partners on Dec. 13-15.
The UAE project was expected to reach $41 billion over the next decade. Industry sources said Abu Dhabi was drafting a plan for at least six nuclear energy reactors along with infrastructure and training.
So far, Abu Dhabi has awarded more than $1 billion for the planning stage of the nuclear project. American companies have won most of the contracts.
One U.S. entry was identified as Lightbridge Corp., which produces non-proliferation nuclear fuel and has opened an office in Abu Dhabi. The American firm, formerly Thorium Power, has been working with France's Areva on the UAE project.
Executives said the UAE would be the first client of Thorium's non-proliferation nuclear fuel technology. The company, with a five-year consultancy contract with Abu Dhabi, hopes that other countries would adopt the UAE model and order similar technology.
"We are also playing a key role in shaping the UAE's nuclear program, the most widely praised new nuclear program globally," Lightbridge said.
Other U.S. companies searching to enter the UAE market were identified as CH2MHill, Englewood and Rizzo.
India plans to be a leading competitor in the UAE project. India, with a huge expatriate labor community that includes senior civil servants, has sent delegations to discuss subcontracts in the UAE nuclear sector.
"We are setting up an office in Abu Dhabi because we expect a lot of subcontract work for the UAE nuclear power project," an Indian executive, who did not want to be identified, said. "Many other companies in the region are flocking to Abu Dhabi to utilize future business opportunities from the nuclear power projects."
|
