U.A.E.’s Nuclear Power Program Said to Cost $30 Billion
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The United Arab Emirates’ nuclear-power program, a joint venture between state-owned Emirates Nuclear Energy Corp. and Korea Electric Power Corp., will cost about $30 billion, according to two people with knowledge of the project.
Financing will be split into one-third equity and two-thirds debt, the people said, declining to be identified because talks are confidential. Fahad al-Qahtani, a spokesman for Emirates Nuclear, said the financing strategy has yet to be decided. Korea Electric declined to comment about the cost of the project.