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FINANCIAL NEWS
GCC to invest USD250b in power: Global Business Reports
13 Jun 2013
(MENAFN) Research specialists Global Business Reports stated that the Gulf Cooperation Council’s countries were expected to invest over USD250 billion in the power sector during the coming five years, reported Arab News.
The report also expected the annual growth in demand for electricity to rise by 8 to 10 percent by 2023, taking into account the rapid growth experienced by power sectors of Abu Dhabi and Dubai.
The report also showed that Abu Dhabi’s power sector was the leader in terms of regional investment with eight independent power and water producers in operation along with the introduction of the GCC’s first nuclear project which is in its construction phase.
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