AREVA signs agreement with Saudi groups to develop country's nuclear program

EDF Energy Group and AREVA signed agreements with several Saudi industrial groups last week to advance the country's nuclear program.

The memorandum of understanding, which was signed while French President Francois Hollande was in Riyadh, was developed with four Saudi universities and five Saudi manufacturers.

EDF CEO Henri Proglio said that the agreements will develop Saudi Arabia's network of local manufacturers and qualified engineers.

Here's the full press release from Areva.

AREVA AND EDF SIGN TWO SERIES OF AGREEMENTS WITH COMPANIES AND UNIVERSITIES FOR THE SAUDI NUCLEAR PROGRAM
PRESS RELEASE

December 30, 2013

On the occasion of French President François Hollande's visit to Riyadh on December 30, 2013, EDF and AREVA signed two sets of agreements aimed at supporting the Saudi nuclear energy program.

The two companies have signed Memorandums of Understanding (MoUs) with 5 Saudi industrial partners (Zamil Steel, Bahra Cables, Riyadh Cables, Saudi Pumps, Descon Olayan). These agreements aim to develop the industrial and technical skills of local companies. They reflect AREVA and EDF's desire to build an extended network of Saudi suppliers for future nuclear projects in the country.

A second series of agreements signed with 4 Saudi universities (King Saud University in Riyadh, Dar Al Hekma College and Effat University in Jeddah and finally Prince Mohammed bin Fahd University in Al-Khobar), are intended to contribute to the development of nuclear expertise in the country.

These agreements follow on from the previous operations organized by EDF and AREVA, through their joint office in Riyadh. These include the "Suppliers’ Days" in March and October 2013, the visit to France by Saudi industrial companies in November, the agreement signed with the local professional training institute (NIT) in July 2013, the visits to French nuclear facilities organized for Saudi university faculty members in June 2013 and internship offers made to Saudi students since the summer.

EDF CEO Henri Proglio commented: "These new agreements underline EDF and AREVA's commitment alongside the Kingdom of Saudi Arabia to enable it to successfully implement its national energy strategy and in particular to develop its future nuclear program by contributing to the development of a local network of manufacturers and by training qualified engineers.”

Luc Oursel, President and CEO of AREVA, added: "These agreements demonstrate the common will of EDF and AREVA to establish a true long-term partnership with the Kingdom of Saudi Arabia. They will enable the country to build a strong industrial base and a robust skills management program.”