16 nuclear reactors to be ready by 2030

Updated 27 August 2013

16 nuclear reactors to be ready by 2030

Saudi Arabia intends to become a leader in renewable energy by building 16 nuclear reactors with a combined capacity of 22GW, which is about half of the Kingdom’s current electricity output. The project is estimated to cost of more than $100 billion.
Abdul Ghani bin Melaibari, coordinator of scientific collaboration at King Abdullah City for Atomic and Renewable Energy, confirmed the plan, adding that the first two reactors would be ready within 10 years.
However, he pointed out the cost building nuclear reactors in the Kingdom would be comparatively higher because of its extreme hot climate. He also stressed the need to train Saudis to operate and maintain such plants.
Melaibari said the cost of building and operating nuclear plants in France, Russia, South Korea and Japan differs from one country to another, depending on the technology they adopt, infrastructure facilities in place and the availability of cheap manpower.
Saudi Arabia and its Gulf neighbors regard nuclear power as a way to meet rising electricity demand while reducing reliance on polluting fossil fuels, say analysts.
“After 10 years we will have the first two reactors,” Melaibari told Arab News. “After that, every year we will establish two, until we have 16 by 2030. We would like to cover 20 percent of electricity needs using nuclear energy.”
He estimated the cost of each reactor to be around $7 billion, adding that the Kingdom is in the process of concluding deals with specialized companies to implement the project.
Many nations have taken a step back from nuclear plans following the accident at the Fukushima Daiichi plant in Japan. But GCC states are pursuing their plans with major investments in nuclear power.
The UAE in December 2009 awarded a South Korean consortium the contract to build four nuclear power plants worth $20.4 billion.
Power demand in Saudi Arabia is estimated to grow seven to eight percent during the next 10 years. It is the largest economy of the GCC, with an annual GDP of $622 billion and a GDP per capita of $24,200.


Misk Initiatives Center signs 12 deals to develop youth talent

Updated 15 November 2019

Misk Initiatives Center signs 12 deals to develop youth talent

  • MoUs with top firms such as Chinese tech giant Huawei, French oil major Total open new opportunities

RIYADH: The Prince Mohammed bin Salman’s Foundation Misk Initiatives Center has signed 12 memorandums of understanding (MoU) on the sidelines of the Misk Global Forum in Riyadh with local and international companies to support and develop youth talent.

Among the companies were the Chinese tech giant Huawei, the French oil firm Total, the Emirati Federal Youth Authority, and the Ministry of Economy and Planning.

The agreements stipulated joint work between the two parties in the fields of talent development in Saudi Arabia and information and communications technology, in accordance with the National Transformation Program 2020 and the Kingdom’s Vision 2030. 

This initiative aims to find ways of cooperation and employment opportunities between the two parties.

The MoU signed between the center and the Emirati Federal Youth Authority provides for the enhancement of joint cooperation in support of youth. 

The two parties will seek to discuss future cooperation, to build a strategic partnership between the two parties in exploring potential cooperative opportunities and setting a framework for such cooperation, in addition to organizing the exchange of technologies and innovations through the joint organization of courses, forums and workshops.

The MoU aims at creating a specialized scientific dialogue between the two parties, conducting joint research at the institutes in the field of entrepreneurship and the skills of the future, considering launching joint initiatives, and examining the possibilities of cooperative programs based on the extensive experience of Misk and the Federal Youth Authority.

Misk’s Initiatives Center agreement with Total will promote joint cooperation, find training opportunities for Saudi talent at the company’s headquarters and facilities, and cooperate on educational programs that support entrepreneurship and an ecosystem for startup companies, especially in the fields of energy and technology.

The Misk Global Forum also witnessed the signing of a MoU with “Hub71” to promote learning and leadership among Saudi youth, and enhance opportunities for joint collaboration, in addition to two MoUs with 500 startups and seed stars “to promote joint cooperation between the two parties, to develop and grow the business of startups and provide them with the necessary
environment.”

Misk also signed a MoU with the Public Institution for Education and Global Leadership to promote joint cooperation and achieve the objectives of both sides, to support innovation initiatives that instill the entrepreneurial mindset of young people, as well as the establishment and organization of entrepreneurship approaches. 

Both parties agreed to focus on exploring potential collaborative opportunities related to the Entrepreneurship World Cup, and establish a competition with competitors coming from 170 countries.

Both parties also agreed to support international competitions aimed at identifying the best solutions in various fields and sectors, as well as exchanging programs on entrepreneurship and innovation.

The center has signed a MoU with the Saudi Industrial Development Fund to discuss the possibility of providing training programs and courses for the center’s employees of the Fund and the relevant authorities. In addition to discussing available opportunities for cooperative training within the Fund, and providing opportunities for participation and contribution of the Fund’s staff in Misk’s programs.

The MoU aims to explore the benefits of existing agreements between the two parties with international financial and educational institutions, in order to find opportunities that provide programs, training and educational courses, and granting cooperative trainings for Saudi youth in those global institutions.

The center also signed a MoU with the Islamic Educational, Scientific and Cultural Organization (ISESCO), aiming to enhance joint cooperation on educational technology and its integration into the educational systems in the Islamic world.

An MoU with King Abdullah University of Science and Technology (KAUST) will enhance the cooperation between the two parties in several initiatives, including academic development, training, entrepreneurship and innovation programs.

An MoU with Endeavor Saudi Arabia will support the Kingdom’s youth, enhance their talents and potential, stimulate economic growth, and find ways of cooperation between the two parties that serve their common interests.

The center’s MoU with the Ministry of Economy and Planning aims to spread awareness, provide new information on the education and training of human resources in the administrative and economic fields, youth empowerment, and coordinate efforts to raise their abilities.

The MoU aims to create cooperative training opportunities in local and international institutions with the purpose of workforce growth in the Kingdom’s economic sector, contributing to the development of national competencies in the economy, policies and procedures, strategic planning, in addition to providing job opportunities for graduates from areas that serve the interests of both parties and support the achievement of the Kingdom’s Vision 2030.