Hitachi Eyes Nuclear Projects in Middle East Amidst Regional Developments
Hitachi is actively pursuing nuclear power project opportunities in Abu Dhabi and Saudi Arabia, emphasizing the need for US support. The company's focus aligns with the Middle East's growing energy demand and its own ambition to expand market presence.
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Hitachi is monitoring nuclear power projects in Abu Dhabi and is interested in Saudi Arabia's King Abdullah City for Atomic and Renewable Energy (KA-Care) initiative. The firm acknowledges the necessity of cooperation agreements for nuclear plant construction, which are presently pending with Japan and the US.
South Korea's Korea Electric Power Corporation leads the $20bn nuclear project in Abu Dhabi. Hitachi's revenue from the Middle East and North Africa was 1% of its $81bn total in 2014, with expectations to increase this share.
A stable political climate in the region, particularly in Iraq, is crucial for the company's expansion plans. The reliance on US collaboration may influence Hitachi's ability to secure contracts in Saudi Arabia.
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