Power Group Online Article |  | |
26 September 2007 - A delegation of American and Canadian investors in the field of nuclear energy left Yemen on Tuesday after signing an initial agreement with the Yemeni government to fund a nuclear power plant at an estimated cost $15bn.
According to the Saba news agency, Yemen's Energy and Electricity Minister Mustafa Bahran said the contract was inked with the Houston-based Powered Corp. "The overall cost of the project is estimated at 15 billion dollars. It features the construction of five nuclear reactors over ten years," Bahran said. "Powered Corporation will oversee efforts to secure the financing of the project," he said.
The firms would carry out feasibility studies for building the plant with a total production capacity of 5000 MW. The agreement with the US and Canadian firms envisages the construction of five nuclear reactors over ten years to produce nuclear energy.
Yemen is looking to build nuclear plant to generate electricity and to desalinate sea water in order to meet the needs of its growing urban population of electrification and water and boost the country's industrial development. It also hopes to diversify and expand its energy resources due to declining oil production.
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