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FINANCIAL NEWS
GCC to invest USD104.7b in power generation projects by 2017
05 May 2013
(MENAFN) The Arab Petroleum Investment Corporation (Apicorp) announced that by 2017, states of the Gulf Cooperation Council (GCC) are expected to invest USD104.7 billion in power generation projects, reported Emirates 24/7.
Apicorp said that the aim of these investments, which make up around 43 percent of the total USD250 billion to be invested in the Middle East and North Africa (MENA) region in the period, is to increase power generation capacity to meet rising demand in these countries.
The Saudi-based corporation added that MENA’s investments in generation, distribution and transmission projects would add 123.9 GW of electricity.
It is worth noting that Mashreq Arab countries will invest USD61.1 billion in the 5-year period, while Maghreb Arab countries are expected to invest USD32.1 billion.
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BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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