Dubai PR Network, Online Press Release from Dubai and Middle East
 
Money, Business & Investments(Banking & Investments)
Filter PR by
  
Barakah One Company Announces Board Members at First General Assembly
 
  • H.E. Khaled Abdulla Al Qubaisi appointed Chairman of the Board

Abu Dhabi, UAE, 16 March 2017:  The Barakah One Company (BOC), a subsidiary of the Emirates Nuclear Energy Corporation (ENEC) and the Korea Electric Power Corporation (KEPCO), held its first General Assembly today and announced the members of its Board of Directors. Led by the Chairman of the Board, H.E. Khaled Abdulla Al Qubaisi, BOC is responsible for the commercial and financial interests of the Barakah project.

The Board members of Barakah One Company are: 

  • H.E. Khaled Abdulla Al Qubaisi, Chairman
  • H.E. Mohamed Al Hammadi, Vice Chairman
  • H.E. Khalifa Al Suwaidi, Member
  • H.E. Mohammed Sahoo Al Suwaidi, Member 
  • Mr. Park Jong Hyuck, Member

Established as a Joint Venture Company, BOC is a part of ENEC’s new corporate governance structure that will lead the delivery and long-term sustainability of the UAE’s Peaceful Nuclear Energy Program. Its mandate is to manage the commercial interests of the Barakah project, secure project finance from institutional and commercial lenders and receive funds for the electricity generated from Units 1 to 4 in Barakah. The Board will govern the performance of the company and ensure the senior leadership team maintain, and are held accountable, for the responsible financing of the UAE’s first nuclear energy plant and future industry.  

“The announcement of our Board of Directors at our first General Assembly is a significant milestone in the UAE Peaceful Nuclear Energy Program,” said H.E. Khaled Abdulla Al Qubaisi, Chairman of the Board of Barakah One Company. “With the establishment of Barakah One, we entered the final stages of realizing the goals and objectives of the Barakah project, issued almost a decade ago. We are pleased to have the government of the Republic of Korea and ENEC’s Prime Contractor, KEPCO, as long-term strategic partners as we turn our vision into reality.”

Nasser Al Nasseri, Barakah One CEO, said: “In October of 2016, ENEC and KEPCO announced the establishment of Barakah One, the result of a Joint Venture Agreement designed to capitalize on KEPCO’s 40 plus years of nuclear experience. As a world-class energy company, Barakah One will ensure the delivery and long-term sustainability of the UAE Peaceful Nuclear Energy Program by applying international best practices and standards to the financing and management of the Barakah project’s commercial interests.”

In November 2016, BOC signed the first nuclear energy Power Purchase Agreement with Abu Dhabi Water and Electricity Company (ADWEC) for the purchase of the electricity to be generated at the Barakah Nuclear Energy Plant. The agreement establishes the contractual framework between the two entities for nuclear-generated safe, clean, efficient and reliable electricity produced at Barakah. 

The Barakah project is progressing steadily. Construction began in 2012 and Unit 1 is now more than 94% complete and all four units are more than 76% complete. Once the four reactors are online, the facility will deliver up to a quarter of the UAE’s electricity needs.

Posted by : Dubai PR Network Editorial Team
Viewed 5722 times
PR Category : Banking & Investments
Posted on : Thursday, March 16, 2017  10:28:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : SAP Invests USD 200 Million in UAE and Opens New MENA HQ
Next Story : Dubai Ranks First Among Islamic Economy Enabling Free Zone C...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Reverse the effects of hair fall with Crescina Re-Growth HFSC Shampoo [14109-Views]
Achieve whiter teeth at home with Spotlight Teeth White Strips [13420-Views]
Golden Bridge Rectangle Diamonds Celebrates The Virtuosity Of Art Deco Design Genius [12157-Views]
Noble™ Anti-aging Skin Care Products [11669-Views]
Skyline Conducted Women of Substance: A Panel Discussion on Women Empowerment [11175-Views]
UAE National Day celebrated in Skyline Carnival 2017 [11126-Views]
SUC signed MOU with Waldorf Astoria Ras Al Khaimah [10742-Views]
SUC conducted Tour Guide Training Program for SCTDA [10706-Views]
Calvin Klein Presents Steadfast Collection [10571-Views]
Time for Some AIGNER Love [10321-Views]
Mohammed bin Rashid Launches UAE Astronaut Programme [9827-Views]
Mido's Multifort Escape - An uncompromising timepiece for exploring new horizons [9595-Views]
RUNWAY DUBAI creates a new buzz campaign for fashion tourism [9388-Views]
Gift gorgeous skin this festive season. [9113-Views]
NIVEA MEN and Real Madrid Extend Partnership Globally Covering 70+ Countries [9095-Views]
Sthan, bringing you authentic Frontier food from beyond borders, is now open in Dubai [8717-Views]
Eberhard & Co. celebrates 130th Anniversary with special commemorative Edition Chrono 4 [8546-Views]
Coach Women's Lex Stainless Steel Bracelet Watch Collection [7887-Views]
‘Artistry' - Branded Jewellery show at Malabar Gold & Diamonds' outlet in Meena Bazar, Bur... [7838-Views]
Together for Egyptian Cinema: A Million happy viewers [7265-Views]
Celebrate the Festive Season With the Galleria on Al Maryah Island in Abu Dhabi [7082-Views]
BOSS watches presents Navigator Collection [6814-Views]
Absolutely Rejuvenated Skin to Start the New Year [6594-Views]
Feast your way into the festive season at The Coffee Club [6564-Views]
Bovet Presents Brilliant Is Beautiful Gala Benefitting Artists for Peace and Justice's Gl... [6448-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories