Riyadh has approved a long-awaited plan to develop nuclear power capacity. The much-reduced program will begin with two reactors.

Saudi Arabia’s Council of Ministers has approved proposals to establish the kingdom’s long-planned National Project for Atomic Energy, state news agency SPA announced on 24 July.

The plan is a much-reduced descendant of an ambitious proposal by the King Abdullah City for Atomic and Renewable Energy (Kacare), which was announced in 2013 and envisaged...