EDF, AREVA, Assystem, sign agreements in support of Saudi nuclear programme

6 January 2014

EDF and AREVA have signed agreements with Saudi industrial and university partners, reflecting their commitment to future nuclear projects in Saudi Arabia. Meanwhile, French engineering consultancy Assystem has signed a letter of intent to acquire a majority stake in Saudi firm Radicon Gulf Consult.

AREVA and EDF signed memoranda of understanding (MOUs) with five industrial partners: Zamil Steel, Bahra Cables, Riyadh Cables, Saudi Pumps and Descon Olayan. The agreements are aimed at developing the industrial and technical skills of local companies and "reflect AREVA and EDF's desire to build an extended network of Saudi suppliers for future nuclear projects in the country," a statement said.

The two companies signed a second set of agreements with four Saudi universities: King Saud University in Riyadh, Dar Al Hekma College and Effat University in Jeddah and Prince Mohammed bin Fahd University in Al-Khobar.

"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 programme," said Luc Oursel, President and CEO of AREVA

The agreements were all signed during French president François Hollande's visit to Riyadh on 30 December 2013.

Assystem to acquire Radicon GulfConsult

Also on 30 December, Assystem founding Chairman, Dominique Louis, signed a letter of intent to proceed with the acquisition of a majority stake in Radicon Gulf Consult, a leading design and engineering company in Saudi Arabia.

With the agreement Assystem aims at developing an engineering offer in the fields of Energy and Infrastructure in
Saudi Arabia.

Radicon employs 400 staff and has an list of important Saudi customers, including Saudi Aramco and Saudi Electricity Company.

The deal will combine Radicon Gulf Consult's market knowledge and technical skills with Assystem's expertise in project management and engineering.

Saudi Arabia palns 18GW of new nuclear capacity by 2030, with its first nuclear power plant scheduled to be online in 2021.

 


Photo: French president François Hollande's press conference ahead of visit to Riyadh on 30 December 2013 (Source: Presidence de la Republique)



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