First Meeting of the Joint Saudi-Russian Coordination Committee

Press release

Published March 16th, 2016 - 09:57 GMT

ROSATOM

On Tuesday, Jumada 6, 1437 per Hegira, or on March 15, 2016, the first meeting of the joint Saudi-Russian coordination committee on nuclear power was held, headed by Waleed bin Hussain Abu Al-Faraj, the deputy chairman of the King Abdullah City for Atomic and Renewable Energy, from the Saudi part, the Russian party being represented by Kirill Komarov, First Deputy CEO for Corporate Development and International Business of the Russian State Atomic Energy Corporation “Rosatom”.

The subject of the meeting in question was IGA for cooperation in the field of peaceful use of nuclear energy entered into by and between the two countries and signed on Ramadan 1, 1436 per Hegira, or on June 18, 2015. In the course of the meeting, the parties discussed issues of cooperation in the field of peaceful use of nuclear energy and implementation of joint programs and projects, in particular, use of technologies and know how, especially in respect of Russian nuclear power and the nuclear power projects Saudi Arabia could participate in.

On Tuesday, Jumada 6, 1437, or on March 15, 2016,The Head of the King Abdullah City for Atomic and Renewable Energy, Dr. Hashim bin Abdullah Yamani, also met Kirill Komarov, First Deputy CEO for Corporate Development and International Business of the Russian State Atomic Energy Corporation “Rosatom”, with his delegation in the headquarters in Riyadh, in the presence of high officials of the City and His Excellency Ambassador of the Russian Federation in the Kingdom, Oleg Ozerov, where the Russian party was informed on ambitious plans of the Kingdom to establish atomic and renewable energy sectors, including the combination of power sources in the Kingdom in the nearest future.

Rosatom is considered one of the world’s leading authorities in this field and incorporates several companies and entities for nuclear power investigation and development in the civil sector. With more than 70 years of experience in the field of nuclear power, it is considered one of the global leaders from the point of view of technology and capacity ensuring advanced solutions in the field of power generation and industry.

It should be mentioned that, by establishing the King Abdullah City for Atomic and Renewable Energy, the Kingdom is undoubtedly striving to develop renewable power sources for generation of electric power and water desalination using nuclear and renewable power to endeavor to maintain its hydrocarbon resources for the future generations or invest the same by export and production, since this will provide possibilities for investment and functional development of the economy due to nationalization of alternative power industries in the Kingdom.

Background Information

ROSATOM

The State Atomic Energy Corporation ROSATOM is one of the global technological leaders. The company has assets and competencies to work at all stages of the nuclear production chain from uranium mining to decommissioning of nuclear facilities and spent nuclear fuel management.ROSATOM brings together about 400 enterprises and organizations, including the world's only nuclear icebreaker fleet. It is the largest electricity generating company in Russia, accounting for 18.7% of the country’s total generation of electricity. ROSATOM is the third in the world in nuclear power generation.The corporation is the global leader in simultaneous implementation of NPP power units and has the largest portfolio of foreign construction projects (36 NPP units in 12 countries). ROSATOM manufactures equipment and produces isotopes for nuclear medicine, carries out research and material studies. It also assembles supercomputers and designs software as well as different nuclear and non-nuclear innovative products. The company has business ventures covering various clean energy projects, including wind energy. ROSATOM has second largest uranium reserves and 17% of the global nuclear fuel market.