Lightbridge Corporation has won a consulting contract with the Gulf Cooperation Council (GCC) Member States to assess regional cooperation in the development of civilian nuclear power programs for electricity generation and water desalination.
The GCC, a political and economic union that comprises the Gulf states of the Kingdom of Bahrain, State of Kuwait, Sultanate of Oman, State of Qatar, Kingdom of Saudi Arabia and United Arab Emirates, formalized the contract with Lightbridge and US nuclear utility Exelon Generation Company, Dr. Allison Macfarlane, Rizzo and Associates and Winston and Strawn LLP. The studies will take place over a six-month period and will be completed by the second quarter of 2011.
“We’ve had a long-standing dialogue with the GCC and each of its Member States, and currently Lightbridge is working in some of these countries," said Seth Grae, president and CEO of Lightbridge.
Lightbridge will perform a group of studies to identify and evaluate seven areas to identify the relative value and implementation options that could result from regional cooperation for each GCC Member State as they progress with their individual nuclear power programs. The areas of evaluation include:
· Legal Issues and Liability
· Nuclear Regulation
· Site Assessment
· Training, R&D, Safety Culture and Human Resource Capacity Building
· Fuel Security and Supply
· Nuclear Waste Management
· Emergency Response
While Lightbridge will manage the overall project, including general integration and collective value assessment, the company will tap partner organizations for additional expertise. Exelon will have a significant role in conducting studies in three of the seven assessment areas: Training, R&D, Safety Culture and Human Resource Capacity Building; Fuel Security and Supply; and Emergency Response.
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