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FINANCIAL NEWS
GCC countries to invest USD58b in power projects
10 Oct 2011
(MENAFN) The Arab Petroleum Investment Corporation (Apicorp) said that in order to meet increasing local demand, over the coming five years, GCC countries would be forecasted to invest over than USD58 billion in power projects, reported Emirates 24/7.
Apicorp added that the Gulf oil producing countries would also add around half the expected additional power general capacity in the Middle East and North Africa (MENA) region.
It also said that the GCC countries would invest around USD58.2 billion in power projects, East Arab countries would invest USD27 billion, West Arab countries would invest around USD13 billion, other Arab countries would invest USD1.8 billion and Iran would invest USD25.8 billion.
It is worth noting that the GCC investments will represent around 46 percent of the total capital needed for electricity development projects in the MENA region.
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