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20 US firms discuss investment opportunities in Saudi nuclear programme

20 US firms discuss investment opportunities in Saudi nuclear programme
The kingdom started to implement a huge programme to generate more than 17.6 gigawatts from nuclear power

Riyadh – Mubasher: Saudi investors have met a delegation of 30 US top executives representing 20 pioneering firms in the civil nuclear power in a bid to explore investment opportunities in the kingdom’s nuclear programme.

The kingdom started to implement a huge programme to generate more than 17.6 gigawatts from nuclear power by 2032, Asharqia Chamber’s (the Eastern Province Chamber of Commerce and Industry) vice chairman Hamad Mohammed Albuali said.

The Saudi Eastern Province is known as the capital of industry in the GCC as it produces most of chemical, petrochemical, and mineral materials, Albuali added.

By the end of February 2018, the US’ investments in Saudi Arabia have surpassed SAR 207 billion, according to data by Saudi Arabian General Investment Authority (SAGIA).

There are more than 370 American firms owning businesses in the Saudi market in the different economic sectors.

Bilateral trade between the two nations amounted to SAR 135 billion in 2017, of which Saudi exports to the US reached SAR 69 billion, against SAR 66 billion imports from the US.