The UAE has awarded US$ 3 billion worth of contracts to six international firms to procure fuel for its nuclear power plants expected to start up by 2017. The Emirates Nuclear Energy Corporation (ENEC) announced the results of the tenders, which it floated for the nuclear fuel procurement in July in order to create a strategy to cover supply for the first 15 years of operations. The contracts cover three areas including purchase of natural uranium concentrates; its conversion into material ready for enrichment; enrichment services through which the material is enriched to a level that is used in the fuel for nuclear energy plants; and purchase of enriched uranium product.
Starting 2014-2015, a total of six leading companies in the nuclear fuel supply industry would participate in the ENEC fuel supply programme. US-based ConverDyn will provide conversion services; Uranium One from Canada will provide natural uranium, UK-based Urenco will provide enrichment services; and Rio Tinto will provide natural uranium. Tenex from Russia will supply uranium concentrates, conversion services and enrichment services. France’s Areva will also provide uranium concentrates, conversion services and enrichment services.
These contracts will provide ENEC with long-term security of supply, high quality fuel and favorable pricing and commercial terms, as per ENEC officials. Established in 2009, ENEC provides nuclear power generation services and is fully owned by the government of Abu Dhabi.
Mena Weekly Monitor – Bank Audi