GE hails U.S.-UAE nuclear deal

WILMINGTON, N.C., Nov. 4 (UPI) -- General Electric welcomes a U.S.-United Arab Emirates nuclear energy agreement as a landmark opportunity to expand civilian nuclear work in the region.

Jack Fuller, the president and chief executive of the joint nuclear venture GE Hitachi Nuclear Energy, described the agreement as historic for the expansion of nuclear energy in the UAE and the region.

"The (United Arab Emirates) has shown strong leadership demonstrating the role nuclear energy plays in a diverse energy portfolio to address growing domestic demands for clean and cost-effective power generation for generations to come," he said.

The so-called 123 Agreement gives U.S. companies the legal framework needed to exchange nuclear technology with other countries for civilian energy production.

GE said the U.S.-United Arab Emirates agreement is in line with efforts by the Emirati government to expand its civilian nuclear energy program.

The company said expansions in the use of civilian nuclear energy would go a long way to meet United Arab Emirates' energy needs, which are expected to increase to more than 40,000 MW in the next decade.

"We applaud this landmark agreement, which marks a historic moment in the future development of civilian nuclear energy in the (United Arab Emirates) and the region," said Fuller.