Saudi Arabia Prepares for Nuclear Power Plant License to Produce Electricity

Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz speaking at the IAEA 66th General Conference (Asharq Al-Awsat)
Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz speaking at the IAEA 66th General Conference (Asharq Al-Awsat)
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Saudi Arabia Prepares for Nuclear Power Plant License to Produce Electricity

Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz speaking at the IAEA 66th General Conference (Asharq Al-Awsat)
Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz speaking at the IAEA 66th General Conference (Asharq Al-Awsat)

Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz announced that the Kingdom is considering requesting a license for a Saudi nuclear power plant for electricity production.

Prince Abdulaziz also stressed to the Kingdom's contribution to supporting the International Atomic Energy Agency (IAEA) nuclear and radiological laboratories within the framework of the ReNuAL2 Initiative.

- Saudi support

The Saudi Minister stressed the Kingdom's support for the Agency's initiative in the integrated work of the qualitative development of nuclear technologies.

Saudi Arabia is looking forward to the contributions of developed countries with their expertise and capabilities to support the Agency in implementing its programs.

- Energy resources

Speaking at the 66th General Conference of the International Atomic Energy Agency in Austria, Prince Abdulaziz discussed the Saudi strategy aimed at diversifying energy sources and its national project to build a nuclear power plant to produce electricity.

He explained that currently, Saudi Arabia wants to request a license for the nuclear plant site after preparing the plant's technical specifications, which were put up in an international competition.

The Minister stressed the Kingdom's commitment, under its national decisions, to use the Agency's standards for nuclear safety and security as a basis for its criteria.

Saudi Arabia stresses the importance of concerted international efforts to implement the treaty and the importance of not politicizing non-proliferation issues while maintaining countries' rights to obtain peaceful nuclear technology.

- Exhibition

Prince Abdulaziz, with IAEA Director General Rafael Grossi, inaugurated the Saudi exhibition accompanying the conference, highlighting the Kingdom's activities in the nuclear and radiological regulatory commission and the importance of solid regulations.

- Desalinization industry

The Saline Water Conversion Corporation (SWCC) has announced the implementation of a project of photovoltaic solar cells systems (PV), including parts on water surfaces with a generation capacity of 110 megawatts.

It aims at enhancing applications of renewable energy in the desalination industry and reducing energy consumption used from the grid to less than 2.16 kilowatts per cubic meter and over 20 percent of the consumption average of design energy, which stands at an average of 2.7 kilowatts per hour for one cubic meter for the desalination system that is being established in the al-Jubail area with a production capacity of more than one million cubic meters per day.

- Standard units

The project is part of several schemes that the corporation works on to provide 300 million Metric Million British Thermal Units (MMBTU) of the consumption of natural gas, in addition to reducing fluid fuel to 10 million tons annually by 2024.

It will contribute to reducing operational costs, realizing the highest environmental standards, and reducing carbon emissions to 34 million tons, in line with the ecological standards and the Saudi Green Initiative.

SWCC has mobile plants that were designed and manufactured by the corporation itself, which rely on solar energy with a consumption rate not exceeding 2.27 kilowatts for one cubic meter, which is a new world record for this category, where the corporation seeks to reduce power consumption in these mobile plants to reach 2 kilowatts.

- New navigation line

The Saudi Ports Authority (Mawani) introduced a new line connecting Jeddah Islamic Port with ten global ports.

Mawani announced that the Mediterranean Shipping Company (MSC), a global transport and logistics service, will introduce the new shipping line as part of the company's direction towards enhancing its services.

The new addition will link Jeddah Islamic Port with ports of Colombo, Nhava Sheva, Mundra, Salalah, King Abdullah Port, Valencia, Felixstowe, Rotterdam, Hamburg, and Antwerp.

At the same time, the service will include 11 mother ships with a capacity of 14,000 TEUs for each vessel, with its first vessel sailing expected to arrive at Jeddah Islamic Port on 23rd October.

- Operational efficiency

The cooperation will enhance Saudi ports' performance on the investment and logistical fronts and fulfill its aim of providing direct services to clients by strengthening connectivity between the Kingdom and the world.

It will reflect positively on the operational efficiency to align with the National Transport and Logistics Strategy (NTLS) objectives of positioning Saudi Arabia as a global logistics hub.

The Jeddah Islamic Port derives its prominence from various attributes, which make it one of the world's major trade gateways.

The port remains the region's leading hub for trade and transshipment, as it was listed 8th on the Container Port Performance Index, issued by the World Bank in its 2021 edition.



IMF Upgrades Outlook for Surprisingly Resilient World Economy to 3.3% Growth this Year

FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo/File Photo
FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo/File Photo
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IMF Upgrades Outlook for Surprisingly Resilient World Economy to 3.3% Growth this Year

FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo/File Photo
FILE PHOTO: A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., US, November 24, 2024. REUTERS/Benoit Tessier//File Photo/File Photo

An unexpectedly sturdy world economy is likely to shrug off President Donald Trump's protectionist trade policies this year, thanks partly to a surge of investment in artificial intelligence in North America and Asia, the International Monetary Fund said in a report out Monday.

The 191-nation lending organization expects that global growth will come in at 3.3% this year, same as in 2025 but up from the 3.1% it had forecast for 2026 back in October, The Associated Press reported.

The world economy "continues to show notable resilience despite significant US-led trade disruptions and heightened uncertainty,'' IMF chief economist Pierre-Olivier Gourinchas and his colleague Tobias Adrian wrote in a blog post accompanying the latest update to the fund's World Economic Outlook.

The US economy, benefiting from the strongest pace of technology investment since 2001, is forecast to expand 2.4% this year, an upgrade on the fund's October forecast and on expected 2025 growth — both 2.1%.

China — the world's second-largest economy — is forecast to see 4.5% growth, an improvement on the 4.2% the IMF had predicted October, partly because a trade truce with the United States has reduced American tariffs on Chinese exports.

India, which has supplanted China as the world's fastest-growing major economy, is expected to see growth decelerate from 7.3% last year (when it was juiced by an unexpectedly strong second half) to a still-healthy 6.4% in 2026.


France Says Still Loyal to Syria Kurds, Hails Ceasefire

Syrian army personnel celebrate as government forces enter Raqqa city following the withdrawal of Syrian Democratic Forces, in Raqqa, Syria, January 18, 2026. REUTERS/Karam al-Masri
Syrian army personnel celebrate as government forces enter Raqqa city following the withdrawal of Syrian Democratic Forces, in Raqqa, Syria, January 18, 2026. REUTERS/Karam al-Masri
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France Says Still Loyal to Syria Kurds, Hails Ceasefire

Syrian army personnel celebrate as government forces enter Raqqa city following the withdrawal of Syrian Democratic Forces, in Raqqa, Syria, January 18, 2026. REUTERS/Karam al-Masri
Syrian army personnel celebrate as government forces enter Raqqa city following the withdrawal of Syrian Democratic Forces, in Raqqa, Syria, January 18, 2026. REUTERS/Karam al-Masri

France on Monday welcomed a ceasefire between the Syrian government and Kurdish-led forces and stressed it remained loyal to the latter who spearheaded the battle against the ISIS group.

"France is faithful to its allies," the foreign ministry said, urging all sides to respect the ceasefire deal, which will also see the Kurdish administration and forces integrate into the state after months of stalled negotiations.


Lucid in 2026: 'Made in Saudi Arabia' Label Goes Global

Mark Winterhoff, interim CEO of Lucid (Company) 
Mark Winterhoff, interim CEO of Lucid (Company) 
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Lucid in 2026: 'Made in Saudi Arabia' Label Goes Global

Mark Winterhoff, interim CEO of Lucid (Company) 
Mark Winterhoff, interim CEO of Lucid (Company) 

Saudi Arabia is positioning itself as a global launchpad for Lucid, the electric-vehicle manufacturer, not merely as a consumer market, but as a manufacturing and export hub serving markets worldwide.

Speaking from Riyadh during his participation in the Future Minerals Forum, Mark Winterhoff, interim chief executive officer of Lucid — whose largest shareholder is Saudi Arabia’s Public Investment Fund (PIF) — outlined the company’s next phase, which focuses on disciplined expansion, resilient supply chains, and a strategic shift from ultra-luxury vehicles toward a broader consumer segment.

In remarks to Asharq Al-Awsat, Winterhoff described the forum as a critical platform for the electric-vehicle industry, given its heavy reliance on minerals and rare earth elements, particularly those used in magnets. He praised Saudi Arabia’s leadership in this area, noting its direct impact on multiple industrial sectors. Winterhoff oversees the execution of Lucid’s strategy and leads teams responsible for product design, engineering, and manufacturing efficiency.

Saudi Arabia as an Export Base

Winterhoff said Lucid’s Saudi factory - the company’s first manufacturing facility outside the United States - was designed from the outset as a major export platform, not solely to meet domestic demand.

Under current plans, only 13 to 15 percent of production will be allocated to Gulf Cooperation Council (GCC) markets, with the majority destined for export. He confirmed that Lucid remains on track to begin production at the facility by the end of this year, specifically in December.

In January 2025, Lucid joined the “Made in Saudi Arabia” program, enabling it to use the national manufacturing label on vehicles produced locally. The company is the first automotive original equipment manufacturer (OEM) to receive the designation, reflecting Saudi Arabia’s push to localize advanced industries, deepen partnerships with global manufacturers, and establish itself as a hub for electric-vehicle production and exports.

Strong Growth Momentum

Winterhoff said Lucid posted strong growth in both production and deliveries in 2025. Annual production more than doubled, while deliveries rose 55 percent year-on-year. The fourth quarter recorded particularly strong results in the United States and the Middle East, especially Saudi Arabia.

He noted that Lucid was the only electric-vehicle manufacturer in the US to report higher deliveries in the fourth quarter of 2025, at a time when many competitors saw sharp declines.

According to company figures, Lucid produced about 18,378 vehicles in 2025, up 104 percent from 2024, while deliveries reached 15,841 vehicles. In the fourth quarter alone, production climbed to 8,412 vehicles — up 116 percent from the previous quarter — while deliveries rose 31 percent to 5,345 vehicles.

While Lucid currently operates in the luxury segment, its most significant strategic shift involves developing a mid-size vehicle priced at around $50,000. Winterhoff said this model, aimed at a much wider consumer base, will form the backbone of production at the Saudi plant and enable the facility to reach its targeted maximum capacity.

Supply Chain Challenges and Outlook

Winterhoff identified supply chains - particularly for minerals, rare earth elements, and semiconductors - as ongoing challenges for the industry. He said Lucid faced repeated difficulties over the past year in sourcing magnets and securing stable semiconductor supplies. Forums such as the Future Minerals Forum, he added, are part of the solution, helping build a more stable and sustainable resource ecosystem.

Looking ahead, Winterhoff expressed confidence in Lucid’s trajectory. The company currently leads US electric-vehicle sales in the luxury sedan segment and ranks third when internal combustion vehicles are included. With the launch of its mid-priced model, Lucid expects higher production volumes and, in 2026, plans to enter the autonomous robotaxi market, an emerging sector it views as a key source of future growth.