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FINANCIAL NEWS
GCC plans joint water project
20 Jul 2013
(MENAFN) The Gulf Cooperation Council countries (GCC) are looking to develop a joint water supply project to desalinate seawater from outside the Gulf and distribute drinkable water across member states, Reuters reported.
GCC assistant economic secretary Abdullah J. al-Shibli said that the GCC is increasingly concerned that the waters of the Gulf may become polluted if there are any leaks from energy installations into the water lying between the Arabian Peninsula and Iran
Arab Gulf countries sought reassurances from Iran at a UN nuclear agency meeting last month over the safety of Bushehr, built on the earthquake-prone coast of Iran.
The Gulf is also home to dozens of offshore oil rigs and loading facilities which could pose a threat to drinkable water supplies in the event of a large leak like the Deepwater Horizon oil spill in the Gulf of Mexico in 2010.
Shibli estimated the joint project to cost around USD7 billion, and will include storage facilities to stock up on potable water.
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