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Toshiba, Shaw and Exelon have signed a deal with Saudi Arabia to pursue several nuclear power contracts in Saudi Arabia. The three companies said in a joint statement that they have signed an agreement with Saudi Arabia to provide design, engineering, procurement, operation and construction for nuclear power plants in Saudi Arabia.
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Exelon would provide operations and related services, while Toshiba and Shaw would provide engineering and design. Saudi Arabia is seeking to develop its energy industry in order to meet burgeoning electricity demand.
Saudi Arabia will invest around $80 billion to increase power generation and the transmission grid network over the next decade to meet an estimated demand of 65 GW by 2018, up from 41.2 GW in 2009.