Nuclear security

Saudi Arabia wants to enrich uranium for nuclear power — Prince Abdulaziz

Saudi Arabia wants to have uranium production and enrichment in future for its planned nuclear power program that will begin with two atomic reactors, the Kingdom's new energy minister said on Monday.

The world's top oil exporter has said it wants to use the metal to diversify its energy mix, but uranium enrichment also opens up the possibility of military uses of the material, the issue at the heart of Western and regional concerns over Iran's atomic work.

"We are proceeding with it cautiously ... we are experimenting with two nuclear reactors," Prince Abdulaziz said, referring to a plan to issue a tender for the Kingdom's first two nuclear power reactors.

He told an energy conference here that ultimately the Kingdom wanted to go ahead with the full cycle of the nuclear program, including the production and enrichment of uranium for fuel.

The tender is expected in 2020, with US, Russian, South Korean, Chinese and French firms involved in preliminary talks about the multi-billion-dollar project.

Prince Abdulaziz also said that the country is aiming for an initial public offering of its national oil giant Saudi Aramco "as soon as possible."