US Competes with Russia Over Saudi Nuclear Reactors

US Energy Secretary Rick Perry delivers a speech during the general conference of the International Atomic Energy Agency in Austria, September 18, 2017.Ronald Zak/AP
US Energy Secretary Rick Perry delivers a speech during the general conference of the International Atomic Energy Agency in Austria, September 18, 2017.Ronald Zak/AP
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US Competes with Russia Over Saudi Nuclear Reactors

US Energy Secretary Rick Perry delivers a speech during the general conference of the International Atomic Energy Agency in Austria, September 18, 2017.Ronald Zak/AP
US Energy Secretary Rick Perry delivers a speech during the general conference of the International Atomic Energy Agency in Austria, September 18, 2017.Ronald Zak/AP

It seems that competition will be fierce on building Saudi nuclear reactors, in which the United States shows great interest after Russia has applied an official tender to build them.

US Energy Secretary Rick Perry will travel to London to discuss the Saudi nuclear energy project with his Saudi counterparts, primarily Saudi Arabia's Oil Minister Khalid al-Falih, reported Bloomberg on Tuesday. Perry scrapped a trip to New Delhi to accommodate meetings at the White House this week, creating an opening for him to lead an inter-agency delegation to London.

The administration is considering permitting Saudi Arabia to enrich and reprocess uranium as part of a deal that would allow Westinghouse Electric Co. and other American companies to build nuclear reactors in the Middle East kingdom.

Some American agreements with other countries have prohibited the enrichment and reprocessing of uranium in exchange for the use of nuclear technology, and that had scuttled negotiations for Saudi projects during the Obama administration.

Two weeks earlier, Russian Energy Minister Alexander Novak announced, during a joint news conference with his Saudi counterpart, that the state-owned nuclear company Rosatom had applied for a tender to construct two power plants in Saudi Arabia.

Media reports quoted a source from King Abdullah City for Atomic and Renewable Energy as saying that the kingdom received tenders from five international companies from China, France, US, South Korea and Russia to carry out engineering and construction works of the two nuclear reactors.

Constructions are anticipated at the beginning of next year, with a joint funding from the Saudi government and the executing company. The two reactors are expected to have a capacity of 2.8 gigawatts



UAE’s Mubadala Acquires Majority Stakes in Global Medical Supply Chain, Al Ittihad Drug

The acquisition enhances Mubadala's footprint in the healthcare logistics and pharmaceutical distribution sectors. WAM
The acquisition enhances Mubadala's footprint in the healthcare logistics and pharmaceutical distribution sectors. WAM
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UAE’s Mubadala Acquires Majority Stakes in Global Medical Supply Chain, Al Ittihad Drug

The acquisition enhances Mubadala's footprint in the healthcare logistics and pharmaceutical distribution sectors. WAM
The acquisition enhances Mubadala's footprint in the healthcare logistics and pharmaceutical distribution sectors. WAM

Mubadala Investment Company has acquired an 80% stake in Global Medical Supply Chain (GMSC) and Al Ittihad Drug Store (IDS) from GlobalOne Healthcare Holding (GHH), with GHH retaining a 20% stake, Emirates News Agency (WAM) reported on Tuesday.

This strategic acquisition enhances Mubadala's footprint in the healthcare logistics and pharmaceutical distribution sectors, aligning with the UAE's vision to establish a robust life sciences infrastructure, WAM said.

Founded in 2015, GMSC provides comprehensive end-to-end supply chain services for medical products, including demand planning, procurement, logistics, inventory management, warehousing, and maintenance.

GMSC serves over 200 medical facilities, including hospitals and clinics across the UAE. With a dedicated team of medical supply chain specialists, GMSC sources a broad array of products from almost 400 suppliers, ensuring a reliable supply chain for all medical needs.

IDS, established in 1987, stands as one of the leading distributors of pharmaceutical and consumer healthcare products in the UAE. Distributing over 1,000 products from over 40 leading suppliers, IDS services every hospital, and all, or at least most pharmacies and supermarkets within the UAE. It boasts a vast portfolio that spans multiple therapeutic categories including anti-infectives, asthma, diabetes, and oncology.

"The expanding pharmaceutical market drives an increasing demand for specialized and efficient drug logistics solutions. By integrating GMSC and IDS into our portfolio, we are poised to create a vertically integrated life sciences sector in the UAE and enable its potential to encompass the entire value chain from logistics and distribution to specialized manufacturing,” said Executive Director of UAE Clusters at Mubadala's UAE Investments Platform Ismail Ali Abdulla.

As for Low Ping, Group CEO Yas Holding, she said that the transaction “continues Mubadala's strategic growth, following another significant acquisition by its new speciality pharmaceutical business, KELIX bio, which recently acquired a 100% stake in four pharma assets from GlobalOne Healthcare Holding's, the healthcare division of Yas Holding.”

“These concerted efforts underline Mubadala's commitment to strengthening the UAE's healthcare and pharmaceutical sectors as part of broader national ambitions for drug security and economic diversification."

GlobalOne Healthcare Holding LLC serves as the dedicated Healthcare Division of Yas Holding LLC, focusing on enhancing healthcare outcomes by investing in innovative solutions across various healthcare verticals.