Sudan Expands Power Production, Prepares for Peaceful Nuclear Energy

A general view shows a section of the plant at the Dar Petroleum Operating Company oil production operated in Palogue oil field within Upper Nile State in South Sudan, September 7, 2016. REUTERS/Jok Solomun REUTERS/Jok Solomun
A general view shows a section of the plant at the Dar Petroleum Operating Company oil production operated in Palogue oil field within Upper Nile State in South Sudan, September 7, 2016. REUTERS/Jok Solomun REUTERS/Jok Solomun
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Sudan Expands Power Production, Prepares for Peaceful Nuclear Energy

A general view shows a section of the plant at the Dar Petroleum Operating Company oil production operated in Palogue oil field within Upper Nile State in South Sudan, September 7, 2016. REUTERS/Jok Solomun REUTERS/Jok Solomun
A general view shows a section of the plant at the Dar Petroleum Operating Company oil production operated in Palogue oil field within Upper Nile State in South Sudan, September 7, 2016. REUTERS/Jok Solomun REUTERS/Jok Solomun

Sudan announced on Wednesday its plans to set up two brand new power plants in the national free zone and Port Sudan just off the Red Sea coast.

Undertook by Germany’s Siemens, both plants are said to produce 850 megawatts and are scheduled to be in service before summer 2018.

Sudan has also announced that the first and second divisions of the three-thousand-megawatts power plant, the Upper Atbara and Setit Dam Complex, are effectively feeding the national grid.

The third unit is currently under construction and the project will be completed by the end of 2017.

Observers predict that the country's power production will double this year with the ongoing expansions.

Sudan is also expected to sign an agreement with the International Atomic Energy Agency (IAEA) in Moscow next month, allowing Khartoum to take full advantage of the peaceful uses of nuclear energy, such as electricity production.

Sudan has completed preliminary surveys to locate the nuclear power plant outside Khartoum.

The increase in power demand in Sudan is 14 percent per year against an annual output of 3,000 MW. The country imports from Ethiopia 250 megawatts to meet the growing demand for electricity in the country.

Sudan is currently implementing a plan for 2031 which is aimed at meeting the African country’s growing demand for power, including the construction of dams, combustion plants with petroleum fuels and renewable energies. It lately peruses employing peaceful nuclear plants to upgrade its energy output.

More so, Sudan has taken many steps towards enabling its peaceful nuclear activity program, especially with regard to nuclear safety and security.

A law has been passed to regulate radiation. Under this law, an independent national control body has been established.

Five years ago, Sudan began to make use of nuclear energy for peaceful aims and agreed earlier this year with Russia's Rosatom, a Russian government nuclear power company, to cooperate in this field.



Gold Hits Four-week Peak on Safe-haven Demand

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
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Gold Hits Four-week Peak on Safe-haven Demand

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk

Gold prices rose to a near four-week high on Thursday, supported by safe-haven demand, while investors weighed how US President-elect Donald Trump's policies would impact the economy and inflation.

Spot gold inched up 0.4% to $2,672.18 per ounce, as of 0918 a.m. ET (1418 GMT). US gold futures rose 0.7% to $2,691.80.

"Safe-haven demand is modestly supporting gold, offsetting downside pressure coming from a stronger dollar and higher rates," UBS analyst Giovanni Staunovo said.

The dollar index hovered near a one-week high, making gold less appealing for holders of other currencies, while the benchmark 10-year Treasury yield stayed near eight-month peaks, Reuters reported.

"Market uncertainty is likely to persist with the upcoming inauguration of Donald Trump as the next US president," Staunovo said.

Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries, CNN reported on Wednesday, citing sources familiar with the matter.

Trump will take office on Jan. 20 and his proposed tariffs could potentially ignite trade wars and inflation. In such a scenario, gold, considered a hedge against inflation, is likely to perform well.

Investors' focus now shifts to Friday's US nonfarm payrolls due at 08:30 a.m. ET for further clarity on the Federal Reserve's interest rate path.

Non-farm payrolls likely rose by 160,000 jobs in December after surging by 227,000 in November, a Reuters survey showed.

Gold hit a near four-week high on Wednesday after a weaker-than-expected US private employment report hinted that the Fed may be less cautious about easing rates this year.

However, minutes of the Fed's December policy meeting showed officials' concern that Trump's proposed tariffs and immigration policies may prolong the fight against rising prices.

High rates reduce the non-yielding asset's appeal.

The World Gold Council on Wednesday said physically-backed gold exchange-traded funds registered their first inflow in four years.

Spot silver rose 0.7% to $30.32 per ounce, platinum fell 0.8% to $948.55 and palladium shed 1.4% to $915.75.