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FINANCIAL NEWS
Arab region to invest USD356b on power projects
25 Dec 2014
(MENAFN) According to a new study by Kuwaiti-based Arab fund for economic and social development (AFESD), Arab states will need to pay nearly USD356 billion in investments for the construction of their new power projects and the expansion of their existing units in the next 10-15 years in order to deal with the growing demand from their people, Emirates 24/7 reported.
These investments will include around USD276 billion for power generation, while an additional USD80 billion will be allocated for distribution and supply of power to consumers, with these projects expected to result in boosting the combined power generation in the Arab world from around 968 GW/hour in 2013 to 2,984 GW/hour in 2020 and 4,860 GW/hour in 2030.
“These investments are needed to meet growing needs”but they remain an ambitious target given the difficulty in obtaining funds in the current circumstances and a trend by many regional governments to channel a large part of their investments into social, health, education and housing projects,” the study said.
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