Russia looks to build nuclear power plants in Saudi Arabia
Russian Energy Minister Alexander Novak has expressed interest in Russian nuclear power company Ross Atom to participate in the construction of nuclear power plants in Saudi Arabia.

"The nuclear energy sector is an important part of our cooperation," said Novak at a meeting of the Russian-Saudi government committee in Riyadh on Thursday. "Russia can participate in the construction of nuclear plants, including 16 reactors."

Reports have recently reported that Riyadh plans to build 16 nuclear power reactors over a period of 20-25 years, at a cost of more than $ 80 billion, as well as other small desalination plants.

The project will supply the Kingdom with 17 gigawatts of nuclear power by 2040, adding more than 40 gigawatts of electricity produced by solar energy.

To promote energy cooperation, Moscow and Riyadh signed an energy and climate agreement and a memorandum of understanding and cooperation in the energy sector. The two countries also set up a roadmap to enhance cooperation by investing in several areas, notably the Neum project, as well as artificial intelligence, railways and industry.

Novak pointed out during the meeting that the Russian Direct Investment Fund and the Saudi Public Investment Fund are discussing more than 20 projects valued at $ 10 billion. Nine projects worth $ 1 billion have been agreed upon.

A delegation from the Russian Ministry of Energy and the Ministry of Industry and Trade visited Riyadh this week. The delegation also included more than 60 representatives of prominent Russian companies, including Gazprom, Cibor, Kamaz and Russian Railways.

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