Abu Dhabi: The UAE has signed a nuclear cooperation agreement with Australia, which holds about 40 per cent of the world's uranium reserves, and making the country the biggest producer of uranium fuel in the world.
According to the agreement signed on Tuesday, Australia will provide the UAE with uranium fuel once nuclear plants - which will cost about 73.5 billion ($20 billion) - are operational by 2017. The 15-year-deal covers uranium supply for four nuclear units.
The Australian Foreign Minister Bob Carr said that the agreement represents strong relationships between the two countries.
“We are pleased today to announce our readiness to provide the UAE with the uranium for their peaceful plants,” said the Australian minister.
UAE Minister of Foreign Affairs Shaikh Abdullah Bin Zayed said: “We have very strong bilateral ties with Australia crowned with the signing of this agreement. For the past few years, we started looking for alternative, sustainable and clean energy sources. This included nuclear power.”
