Saudi Arabia has established a holding company to develop nuclear power projects in the Kingdom, local newspaper Saudi Okaz reported on Sunday.

The newspaper quoted the Saudi ambassador to Austria and permanent representative to International Atomic Energy Agency (IAEA), Prince Abdullah bin Khalid bin Sultan, saying that the holding company will develop nuclear power plants to produce electricity, desalinate seawater, and for thermal energy applications. 

He said the Kingdom is working on a framework programme for nuclear energy during 2022-2027, which includes capacity building and collaboration with international institutes for research and development.

He shared these details during the IAEA Board of Governors Meeting, held from 7-11 March in Vienna.

During the Future Minerals Forum in Riyadh in January 2022, Saudi energy minister Prince Abdulaziz bin Salman Al Saud had announced that the Kingdom has uranium resources that it wants to exploit transparently through partnerships.