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Nuclear Deal With UAE

Rosatom signed an agreement with the United Arab Emirates on Monday, paving the way for deliveries of uranium to the Gulf state.

The agreement, signed by Rosatom CEO Sergei Kiriyenko and UAE Energy Minister Mohammed Al Hamli, sets up a legal basis for an earlier-agreed-upon 15-year contract for the deliveries of uranium to the United Arab Emirates.

The $3 billion deal will see Rosatom supply about half the UAE's fuel needs for four South Korean-designed reactors it is buildingin Abu-Dhabi.

Rosatom's uranium exporting subsidiary, Tekhsnabexport, and its Canadian affiliate, Uranium One, are expected to start deliveries in 2014, Interfax reported.

The reactors are scheduled to come on line between 2017 and 2020.

(MT)

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