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Page added on March 25, 2015

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Jordan signs $10 billion nuclear power plant deal with Russia

Public Policy

Jordan signed an agreement with Russia on Tuesday worth $10 billion that sets the legal basis for building the kingdom’s first nuclear power plant with a total capacity of 2,000 megawatt.

Jordan imports nearly 98 percent of its energy from oil products and crude and is struggling to meet electricity demand which is growing by more than 7 percent annually due to a rising population and industrial expansion.

The deal, signed with Russia’s state-owned nuclear firm Rosatom, envisages the construction of a two-unit power plant at Amra in the north of the kingdom by 2022.

“The Russian technology we chose in a very competitive process suits Jordan’s needs in terms of power generation and the ability to produce electricity at very competitive prices,” Khaled Toukan, chairman of the Jordan Atomic Energy Commission (JAEC), told a news conference.

The deal provides for a feasibility study, site evaluation process and an environmental impact assessment. Jordan hopes that eventually nuclear power could provide almost 40 percent of its total electricity generating capacity.

Russia was selected in October 2013 as the preferred bidder to supply Jordan with its first nuclear power plant. The first of the two units is expected to start operating after 2022 and the second two years later.

The chief executive officer of Rosatom, Sergey Kiriyenko, said cooperation with Jordan would open the door for future nuclear fuel supply deals.

“The nuclear power plant is the embodiment of a strategic partnership,” Kiriyenko said.

Russia, especially keen to tap lucrative new markets for its nuclear technology and know-how as it battles Western economic sanctions imposed over the Ukraine crisis, will meet 49 percent of the project’s costs and Jordan the remaining 51 percent.

Last month, Moscow and Cairo signed a memorandum of understanding to build Egypt’s first nuclear power plant during a visit to that country by Russian President Vladimir Putin.

Rosatom signed an agreement earlier this year to build two reactors in Hungary and also hopes to build more reactors in Iran in addition to the Bushehr plant launched there in 2011.

Rosatom’s investment programme, sourced from Russia’s state budget, allows it to spend about $300-$350 billion per year to build nuclear plants in Russia and abroad, a business that has been hit by global safety concerns after the 2011 Fukushima nuclear disaster.

 

reuters



8 Comments on "Jordan signs $10 billion nuclear power plant deal with Russia"

  1. Makati1 on Wed, 25th Mar 2015 5:39 am 

    Yep! Russia is really isolated isn’t it…lol.

  2. Davy on Wed, 25th Mar 2015 7:05 am 

    Article said “The deal provides for a feasibility study, site evaluation process and an environmental impact assessment. Jordan hopes that eventually nuclear power could provide almost 40 percent of its total electricity generating capacity.”

    This is nothing more than typical talk. When has much more than talk occurred in the ME when so much is a mess? Russia is grasping at anything that will help it break out of a straightjacket of geopolitical problems and financial duress.

  3. Kenz300 on Wed, 25th Mar 2015 10:09 am 

    Nuclear energy hucksters are still busy selling their snake oil to the uninformed and gullible……..

    The world has not learned its lessons from the disasters at Fukishima and Chernobyl. Those disasters continue today with no end in sight. The costs and environmental damage keep growing…..

  4. Plantagenet on Wed, 25th Mar 2015 10:37 am 

    I thought Jordan was a US ally. Shouldn’t they be buying a US nuclear plant?

  5. Kenz300 on Wed, 25th Mar 2015 10:40 am 

    Wind and solar are the future….. nuclear energy is too costly and too dangerous..

    Wind Project Adds 200 Megawatts to Texas Grid

    http://www.renewableenergyworld.com/rea/blog/post/2015/03/wind-project-adds-200-megawatts-to-texas-grid

  6. baptised on Wed, 25th Mar 2015 11:12 am 

    Very good and uplifting article.

  7. Bob Owens on Wed, 25th Mar 2015 4:54 pm 

    This nuke stuff just doesn’t make sense. $10 Billion buys a lot of solar and wind. It can be built quickly, in multiple locations, phased in, scaled up; in every way better than nukes. So why? Best guess: they want to get a foot into the nuke bomb door so they go buy a nuke plant. Sad.

  8. Go Speed Racer. on Wed, 25th Mar 2015 7:38 pm 

    But wait, there’s more. So they signed up IS1S to do all the refueling. Be glad your government is there to make it possible.

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