Russia Proposes 'VVER' Reactors for First Saudi Nuclear Power Plant

The logo of Rosatom Corp. is pictured at the World Nuclear Exhibition (WNE), the trade fair event for the global nuclear community in France, on June 26, 2018. REUTERS/Benoit Tessier/File Photo
The logo of Rosatom Corp. is pictured at the World Nuclear Exhibition (WNE), the trade fair event for the global nuclear community in France, on June 26, 2018. REUTERS/Benoit Tessier/File Photo
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Russia Proposes 'VVER' Reactors for First Saudi Nuclear Power Plant

The logo of Rosatom Corp. is pictured at the World Nuclear Exhibition (WNE), the trade fair event for the global nuclear community in France, on June 26, 2018. REUTERS/Benoit Tessier/File Photo
The logo of Rosatom Corp. is pictured at the World Nuclear Exhibition (WNE), the trade fair event for the global nuclear community in France, on June 26, 2018. REUTERS/Benoit Tessier/File Photo

Moscow looks forward to expanding the horizons of Russian-Saudi cooperation in nuclear technology, especially in designing and building peaceful atomic power plants in the Kingdom, Rosatom State Nuclear Energy Corporation revealed to Asharq Al-Awsat.

"VVER" nuclear reactors - 'water-water energy reactor' - are a crucial product that Rosatom offers in its bidding portfolio, said Alexander Voronkov, CEO of ROSATOM Regional Center in the Middle East and Northern Africa region.

Voronkov added that Russia has proposed installing the hydro energy reactors to the first nuclear power plant Saudi Arabia plans to build in coming years.

Speaking to Asharq Al-Awsat, the Rosatom CEO confirms that the Russian reactor has withstood the test of time and has been developed since 1955.

To date, no VVER-equipped power plant has registered any serious mishap, which favors the technology when compared to its many competitors in the international market, explained Voronkov.

Since October 2017, Rosatom has been engaged in competitive talks for helping establish Saudi Arabia's first nuclear power plant.

In December 2017, Rosatom and the King Abdullah City for Atomic and Renewable Energy signed a roadmap for cooperation in the peaceful use of nuclear energy.

Voronkov pointed out that Rosatom is involved in nuclear power plant construction projects in 12 countries worldwide, including Turkey and Egypt.

He added that a focus on Russian projects with VVER-1200 reactors offers safety that is of particular importance to countries new to the nuclear industry, such as Saudi Arabia.

"Our gained experience allows us to support the client at any stage of the implementation of any nuclear project," affirmed Voronkov, noting that the construction of a nuclear power plant constitutes a complex, comprehensive, and multifaceted task.

According to Voronkov, Rosatom can help with several areas such as design and construction, refueling, operation and maintenance services, modernizing generating units, educating and training staffers, and raising the level of public acceptance of nuclear energy.



China’s Economy Set to Slow in Q2 as Pressure from US Tariffs Mounts

 A laborer works on the glass wall of a building near a luxury brand logo in Beijing, China, Friday, July 11, 2025. (AP)
A laborer works on the glass wall of a building near a luxury brand logo in Beijing, China, Friday, July 11, 2025. (AP)
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China’s Economy Set to Slow in Q2 as Pressure from US Tariffs Mounts

 A laborer works on the glass wall of a building near a luxury brand logo in Beijing, China, Friday, July 11, 2025. (AP)
A laborer works on the glass wall of a building near a luxury brand logo in Beijing, China, Friday, July 11, 2025. (AP)

China's economy is likely to have cooled in the second quarter after a solid start to the year, as trade tensions and a prolonged property downturn drag on demand, raising pressure on policymakers to roll out additional stimulus to underpin growth.

The world's No. 2 economy has so far avoided a sharp slowdown in part due to a fragile US-China trade truce and policy support, but markets are bracing for a weaker second half as exports lose momentum, prices continue to fall, and consumer confidence remains low.

Data due Tuesday is expected to show gross domestic product (GDP) grew 5.1% year-on-year in April-June, slowing from 5.4% in the first quarter, according to a Reuters poll. The projected pace would still exceed the 4.7% forecast in a Reuters poll in April and remains broadly in line with the official full-year target of around 5%.

"While growth has been resilient year-to-date, we still expect it to soften in the second half of the year, due to the payback of front-loaded exports, ongoing negative deflationary feedback loop, and the impact of tariffs on direct exports to the US and the global trade cycle," analysts at Morgan Stanley said in a note.

"The third-quarter growth could slow to 4.5% or lower, while Q4 faces unfavorable base effect, putting the annual growth target at risk," the analysts said. They expect Beijing to introduce a 0.5-1 trillion yuan ($69.7 billion-$139.5 billion) supplementary budget from late in the third quarter.

China's exports regained some momentum in June while imports rebounded, as factories rushed out shipments to capitalize on a fragile tariff truce between Beijing and Washington ahead of a looming August deadline.

GDP data is due on Tuesday at 0200 GMT. Separate data on June activity is expected to show both industrial output and retail sales slowing.

On a quarterly basis, the economy is forecast to have expanded 0.9% in the second quarter, slowing from 1.2% in January-March, the poll showed.

China's 2025 GDP growth is forecast to cool to 4.6% - falling short of the official goal - from last year's 5.0% and ease even further to 4.2% in 2026, according to the poll.

BALANCING ACT

Investors are closely watching for signs of fresh stimulus at the upcoming Politburo meeting due in late July, which is likely to shape economic policy for the remainder of the year.

Analysts polled by Reuters expect a 10-basis point cut in the seven-day reverse repo rate - the central bank's key policy rate - in the fourth quarter, along with a similar cut to the benchmark loan prime rate (LPR).

Beijing has ramped up infrastructure spending and consumer subsidies, alongside steady monetary easing. In May, the central bank cut interest rates and injected liquidity as part of broader efforts to cushion the economy from US President Donald Trump's trade tariffs.

But China observers and analysts say stimulus alone may not be enough to tackle entrenched deflationary pressures, with producer prices in June falling at their fastest pace in nearly two years.

Expectations are growing that China could accelerate supply-side reforms to curb excess industrial capacity and find new ways to boost domestic demand.

It's a stiff challenge, analysts say, as Chinese leaders face a delicate balancing act in their quest to cut production while maintaining employment stability in the face of a worsening labor market outlook.