Get All Access for $5/mo

Jordan Plans To Go Nuclear With Russian Rosatom Jordan announced the construction of its first ever nuclear power plant in late March of this year, indicating that 49% of it will be funded by Rosatom, a nuclear firm owned by the Russian state.

By Kareem Chehayeb

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.

Shutterstock

Jordan announced the construction of its first ever nuclear power plant in late March of this year, indicating that 49% of it will be funded by Rosatom, a nuclear firm owned by the Russian state. The power plant, worth US$10 billion, is expected to start operating by 2022, with another one planned to be operating a couple of years later. It appears likely that the reactors will be built in southern Jordan, after Belgian firm Tractebel Engineering declared the area appropriate back in 2010.

Sergey Kiriyenko, Chief Executive Officer, ROSATOM. Image credit: Shutterstock.

The announcement of Jordan and Russia's agreement made global headlines, and many were somewhat surprised. Looking at Jordan's involvement in various institutions in the international community, the nuclear plant doesn't actually sound so surprising. Jordan, which has its own commission for atomic energy (the Jordan Atomic Energy Commission), has signed memorandums of understanding with various states with nuclear power, including the U.S., U.K., China, Russia, South Korea, Japan, and France. They also established the Committee for Nuclear Strategy back in 2007 to tackle the future construction of nuclear reactors, and have brought in a five-megawatt research reactor via South Korean company Daewoo to the Jordan University of Science and Technology. Jordan has also ratified the Treaty on the Non-Proliferation of Nuclear Weapons by the International Atomic Energy Agency (IAEA). Of course, all this has been met with opposition by various environmentalist groups, who claim that Jordan can push for safer alternative energy sources, specifically solar or wind-powered energy.

With Jordan relying almost entirely on oil imports for energy, and with a rising population, it only makes sense to find an alternative energy source that is more cost efficient and more self-reliant. The country plans to handle 40% of its energy demand through its nuclear reactors. But here's something that we hope will be sorted out as soon as possible: despite nuclear energy being significantly cleaner than that of fossil fuels, what's Jordan going to do with all that nuclear waste?

Kareem Chehayeb

Columnist, Entrepreneur Middle East

Business News

Want to Start a Business? Skip the MBA, Says Bestselling Author

Entrepreneur Josh Kaufman says that the average person with an idea can go from working a job to earning $10,000 a month running their own business — no MBA required.

Growing a Business

You'll Never Satisfy Your Customers — or Grow Your Business — Without Doing These 3 Things

Customer feedback can be used to drive sustainable growth. Here are three approaches to how you can move past measurement to drive improvement and ultimately grow your business.

Career

AI Is Standing Between You and Your Next Job — Here's How to Get Your Application Into Human Hands.

It's becoming harder to become a standout, but there is one way that will always help show off your individualism in a sea of resumes.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Growth Strategies

A Booming Market: A Look Into Saudi Arabia's Rapidly Evolving Food Delivery Landscape

Here's a glimpse into the transformative journey of food delivery in Saudi Arabia.

Growth Strategies

Advancing With Agility: Nadia Al Saeed, CEO, Bank Al Etihad

The CEO of Bank al Etihad, who was recently elected to be the Chairwoman of the Board of Directors at Endeavor Jordan, is eager to help boost her country's startup ecosystem.