UAE, South Korea sign deal on nuclear plants

13:34, December 28, 2009      

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The United Arab Emirates (UAE) signed a 75-billion-dirham (about 20.25 billion U.S. dollars) agreement Sunday with South Korea on the construction of four nuclear power plants in the Gulf country.

The agreement was inked by UAE Foreign Minister Sheikh Abdullahbin Zayed Al Nahyan and South Korean Knowledge Economy Minister Choi Kyung-hwan, the official news agency WAM reported.

UAE President Sheikh Khalifa bin Zayed Al Nahyan and visiting South Korean President Lee Myung-bak also attended the signing ceremony, the report added.

Under the deal, a consortium of companies led by Korea Electric Power Corporation will design, build and help operate and maintain four nuclear power plants for the Emirates Nuclear Energy Corporation.

The two countries also agreed to set up a high-level committee and a number of sub-committees to facilitate cooperation in such fields as peaceful nuclear energy, renewable energy, energy efficiency and sustainability, information technology and communications, semi-conductors, shipbuilding and human resources development.

In a statement after the ceremony, Sheikh Khalifa said relations between the UAE and South Korea have been progressing steadily.

"Our relationship with South Korea, which has seen sustained growth in recent years, has ushered in a new era of strategic partnership which will serve the interest of the two countries," he said.

Lee, who arrived in Abu Dhabi late Saturday, said he was grateful to the UAE for awarding the multi-billion contract to the South Korean consortium and for forging strategic partnership with his country.

South Korea will try its utmost to push forward relations with the Gulf Arab country, he added. (1 UAE dirham = 0.27 U.S. dollar) 

Source: Xinhua
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