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FINANCIAL NEWS
Arabs must invest over USD125b in power projects: APICORP
05 Feb 2012
(MENAFN) The Arab Petroleum Investment Corporation (Apicorp) said that during the coming 5 years, Arab nations must invest more than USD125 billion in power development projects, reported Emirates 24/7.
Apicorp added that as a result of the current economic and political situation in the region, countries could find difficulty in financing such projects.
The affiliate of the Organization of Arab Petroleum Exporting Countries (OAPEC) also said that fast growing population, stable expansion of the industrial sector and increasing water desalination needs would drive Gulf Cooperation Council (GCC) countries to fund half of these investments.
It is worth noting that that investments in power development projects would reach nearly USD58.2 billion in the GCC, USD27 billion in Mashreq (east) Arab countries, USD25.8 billion in Iran, USD13 billion in Maghreb (west) Arab countries and around USD1.8 billion in other Arab nations, according to Apicorp.
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