UAE completes Arab world’s first nuclear plant

A general view of the power plant in the Gharbiya region of Abu Dhabi on the Gulf coastline about 50 kilometers west of Ruwais. File/AFP/Barakah Nuclear Power Plant
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Updated 05 September 2024
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UAE completes Arab world’s first nuclear plant

  • It will generate 25 percent of the electricity needs
  • The station will power companies including the Abu Dhabi National Oil Company, Emirates Steel and Emirates Global Aluminium

DUBAI: The UAE on Thursday announced the completion of the Arab world’s first nuclear power plant, calling it a “significant step.”
Abu Dhabi’s Barakah Nuclear Energy Plant will produce 40 terawatt-hours of electricity annually after its fourth and final reactor has entered commercial operation, the state-owned Emirates Nuclear Energy Corporation (ENEC) said in a statement.
It will generate 25 percent of the electricity needs of the hot, desert Gulf state, where air-conditioning is ubiquitous — nearly the equivalent of New Zealand’s annual consumption, ENEC said.
The station will power companies including the Abu Dhabi National Oil Company, one of the world’s biggest oil producers, Emirates Steel and Emirates Global Aluminium, ENEC said.

Barakah, which means “blessing” in Arabic, started operations in 2020 when the first of its four reactors went into service.
Saudi Arabia, the world’s top oil exporter, has also said it plans to build nuclear reactors.
Emirati President Sheikh Mohammed bin Zayed hailed Barakah’s completion as a “significant step on the journey toward net zero.”
“We will continue to prioritize energy security and sustainability for the benefit of our nation and our people today and tomorrow,” he said in a post on social media platform X.
According to the International Atomic Energy Agency, the plant “will have to be disassembled at the end of its useful life, in around 60-80 years.”

The UAE, which is made up of seven emirates, including the capital Abu Dhabi and economic hub Dubai, is one of the largest oil producers in the OPEC cartel.
The country was largely built on oil but is spending billions to develop enough renewable energy to cover half of its needs by 2050.
Last year, it hosted the COP28 UN climate talks which resulted in an agreement to “transition away” from fossil fuels.
The UAE lies across the Gulf from Iran which has a Russian-built nuclear power plant outside the coastal city of Bushehr, as well as a controversial uranium enrichment program.
The UAE has repeatedly said its nuclear ambitions are for “peaceful purposes” and ruled out developing any enrichment program or nuclear reprocessing technologies.
The country uses gas-powered stations for much of its electricity needs, but also has one of the world’s biggest solar plants outside Abu Dhabi.


Closing Bell: Saudi main index closes higher at 10,596 

Updated 23 December 2025
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Closing Bell: Saudi main index closes higher at 10,596 

RIYADH: Saudi equities closed higher on Tuesday, with the Tadawul All Share Index rising 43.59 points, or 0.41 percent, to finish at 10,595.85, supported by broad-based buying and strength in select mid-cap stocks. 

Market breadth was firmly positive, with 170 stocks advancing against 90 decliners, while trading activity saw 161.96 million shares change hands, generating a total value of SR3.39 billion. 

Meanwhile, the MT30 Index closed higher, gaining 6.52 points, or 0.47 percent, to 1,399.11, while the Nomu Parallel Market Index edged marginally lower, slipping 3.33 points, or 0.01 percent, to 23,267.77. 

Among the session’s top gainers, Al Masar Al Shamil Education Co. surged 9.99 percent to close at SR26.20, while Saudi Cable Co. jumped 9.98 percent to SR147.70.  
Cherry Trading Co. rose 4.18 percent to SR25.44, and United Carton Industries Co. advanced 4.09 percent to SR26.46. 

Al Yamamah Steel Industries Co. also posted solid gains, climbing 4.07 percent to end at SR32.70.  

On the downside, Emaar The Economic City led losses, slipping 3.55 percent to SR10.32, followed by Derayah REIT Fund, which fell 2.92 percent to SR5.31. 

Derayah Financial Co. declined 2.13 percent to SR26.62, while United International Holding Co. retreated 1.96 percent to SR155.20, and Gulf Union Alahlia Cooperative Insurance Co. eased 1.92 percent to SR10.70.  

On the announcements front, Red Sea International Co. said it signed a SR202.8 million contract with Webuild S.P.A. to provide integrated facilities management services for the Trojena project at Neom. 

The agreement covers operations and maintenance for the project’s Main Camp and Spike Camp, including accommodation and housekeeping, catering, security, IT and communications, utilities, waste management, fire safety and emergency response, as well as other supporting services.  

The contract runs for two years, with the financial impact expected to begin in the first quarter of 2026. Shares of Red Sea International closed up 0.99 percent at SR34.74. 

Al Moammar Information Systems Co. disclosed that it received an award notification from Humain to design and build a data center dedicated to artificial intelligence technologies, with a total value exceeding 155 percent of the company’s 2024 revenue, inclusive of VAT. 

The contract is expected to be formally signed in February 2026, underscoring the scale of the project and its potential impact on the company’s future revenues.  

MIS shares ended the session 2.82 percent higher at SR156.70, reflecting positive investor sentiment following the announcement.