Reports last week suggested that China is considering investing in a large, 1,000-megawatt reactor in Pakistan, in addition to the two small reactors recently agreed upon by the two countries. If validated, the reports indicate that Chinese policymakers have given the go-ahead to a nuclear development plan prioritizing early export of indigenous large reactors, while simultaneously underlining Beijing’s willingness and ability to pursue a policy of nuclear exceptionalism in the subcontinent. The backstory on the reported deal dates back to 2004, when the smaller State Nuclear Power Technology Corporation (SNPTC) won a momentous decision from Chinese planners to proceed with [...]
On Sep. 6, the European Investment Bank, the European Bank for Reconstruction and Development, and the International Financial Corporation (a branch of the World Bank Group) signed a mandate letter with the consortium behind the Nabucco natural gas pipeline, marking the start of an appraisal process that will eventually secure a €4 billion financing package for the project. The three international financial institutions committed €2 billion, €1.2 billion and €800 million, respectively. Along with the more modest €200 million grant provided by the European Commission last March, the contributions will certainly boost confidence in the project among private investors, who [...]
Years ago, when world leaders started speaking out about the dangers of Iran’s nuclear program, one of the potential threats they cited was the possibility that it would spark a flurry of competing nuclear programs throughout the Middle East. Today, as international efforts to stop Iran’s uranium enrichment remain unsuccessful, the once-distant prospect of a Middle East crowded with nuclear plants has moved a long way toward becoming a reality. In recent days, Jordan signed a nuclear cooperation deal with Japan, setting the stage for the Hashemite kingdom to start receiving nuclear technology and nuclear materials. Japanese officials also inked [...]
