OREANDA-NEWS. November 02, 2010.  Minister of Information of Saudi Arabia Abdel Aziz Khoja reported to the agency that the kingdom Cabinet had authorized Head of Saudi King Abdullah City for Atomic and Renewable Energy to sign a draft agreement with Russia.

The kingdom authorities announced about the center establishment this year in April, former Minister of Commerce Hashim Yamani was appointed as its head. In July the Saudi government approved signing of an agreement for civil nuclear cooperation with France.

Saudy Arabia, the world’s No. 1 oil exporter and other member countries of the Cooperation Council for the Arab States of the Gulf (CCASG) are seeking to develop the nuclear power to satisfy the demand for electricity growing yearly approximately by 8%.

In December of 2009 the United Arab Emirates and South Korea signed a contract whereby a Korean consortium consisting of several companies headed by KEPCO corporation would design and construct in the UAE four nuclear power plants with 1,400 MW capacity each. The overall cost will amount to USD 20.4 bln.