Construction of the first nuclear plant in the United Arab Emirates (UAE
) started with the pouring of part of the base slab at the Barakah site on 19 July 2012, according to a press statement by the Emirates Nuclear Energy Corporation (ENEC)
. This is the first of four 1400 MW
proposed reactors that the Korea Electric Power Corporation (KEPCO
) plans to build at the site. Start-up is scheduled for one unit each year between 2017 and 2020. Cost estimates have risen to between $36 billion and «
closer to $40 billion
», according to the trade journal Nuclear Intelligence Weekly. The construction is launched despite uncertainties remaining over the financing.