Powered Corp Deal Update: Khalas!

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Done. No statement on the shadiness of the deal… just that the company is “incapable of implementing the reactors.”

The Yemeni government cancels electricity ministry agreement with Powered

Tuesday, 30-October-2007
almotamar.net – The Yemeni government has Tuesday cancelled an agreement the Yemeni ministry of electricity and energy has concluded with an American company late last September for building five nuclear reactors in Yemen at a cost of $15 billion for generating electric power.

The cabinet approved in its meeting today the cancellation of the primary agreement between the electricity ministry and the American Powered Corporation Company for building five nuclear reactors at a cost of $15 million, according to the news published on the cabinet meeting.

The government decision came after publication of information on the company’s incapability of implementing the reactors. The Yemeni ministry of electricity and energy had signed last September the agreement of building the five nuclear reactors provided that the reactors are to be built within ten years.

The Yemen’s minister of electricity Dr Mustafa Bahran said the work will begin with conducting a feasibility study and selecting the sites on which the projects of stations to be constructed as well as the economic, technical and environmental aspects as well as choosing the suitable technology.

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One Response to “Powered Corp Deal Update: Khalas!”

  1. Dan Says:

    Dude, good usage of “Khalas”, that really came up huge. I think yours was way better than the one in “The Kingdom”.

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