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« A Miner Problem, $2 Billion in Negative Working Capital | Main | The Middle East Nuclear Race Is Already Underway »
Tuesday
Mar242015

Jordan, Russia Sign $10 Billion Deal on Nuclear Power Plant

 

Jordan signed a $10 billion deal with Russia on Tuesday to build the kingdom's first nuclear power plant, with two 1,000-megawatt reactors in the country's north.

The deal, signed in the Jordanian capital, Amman, with Russia's state-owned Rosatom company caps efforts of the energy-poor kingdom to increase energy sufficiency and reduce imports.

Jordan lacks any local energy sources and imports 96 percent of its electricity. The violence in neighboring Iraq and Egypt's Sinai Peninsula has threatened and in many cases, completely cut off supplies.

The kingdom's Petra news agency said Jordan plans to finish construction of the plant in Amra in the country's north by 2022. There are also hopes it will be fueled with uranium mined in Jordan.


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