Saudi Arabia announces formation of nuclear energy company

Saudi Arabia's ambassador to the International Atomic Energy Agency (IAEA) says the oil-rich kingdom has established a national nuclear energy company, which would supposedly pursue commercial interests via participating and investing in projects and assets with a local and international economic viability.

Prince Abdullah bin Khalid bin Sultan said on Friday that the Saudi Nuclear Energy Holding Company (SNEHC) will participate in nuclear economic projects locally and internationally.

The company will also operate and develop nuclear facilities for the production of energy and desalinated water, map out a strategy for the development of human resources in the field of atomic energy, cooperate with international institutes for atomic energy research, and work towards creation of a national digital platform to build and attract human capabilities in the field of atomic energy.

Prince Abdullah told the IAEA Board of Governors that Saudi Arabia attaches paramount significance to nuclear safety.

Back in August 2020, the Wall Street Journal newspaper, citing Western officials with knowledge of the matter, reported that Saudi Arabia had built a facility for the extraction of uranium yellowcake in a remote desert location near the northwestern small city of al-‘Ula.

The facility, which has not been publicly acknowledged, has raised concern that Saudi Arabia’s nascent nuclear program is moving ahead, and Riyadh is keeping open an option to develop nuclear weapons, according to the report.

Yellowcake is processed from naturally occurring uranium ore and can be further enriched to create fuel for nuclear power plants and, at very high levels of enrichment, nuclear weapons. 

Earlier, satellite images revealed that Saudi Arabia was pushing ahead to complete its first nuclear reactor.

The images have raised concern among arms control experts because the kingdom has yet to implement international monitoring rules.

Satellite photos showed the kingdom has built a roof over the facility before putting in place IAEA regulations that allow inspectors' early verification of the reactor’s design.

MG