FINANCIAL NEWS

MENA to invest USD250b in power sector by 2017

30 Apr 2012

(MENAFN) The Arab Petroleum Investment Corporation (Apicorp) said that during the coming 5 years, countries in the Middle East and North Africa (MENA) region will have to spend around USD250 billion to expand power sector, reported Emirates 24/7.

Saudi-based Apicorp added that growth in the region’s power sector is expected to be at around 7.8 percent during the mentioned period, surpassing gross domestic product (GDP) growth, which is estimated to expand at 4.5 percent.

It also said that of the total amount, around USD148 billion or 59 percent will be needed to increase generation capacity, whereas the rest, nearly 41 percent, will be spent on transmission and distribution (T&D) of electricity supplies.

It is worth noting that the GCC would need to invest a total of USD104.7 billion in power sector, including USD63.1 billion in power generation and USD41.6 billion in T&D.

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