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FINANCIAL NEWS
MidEast will need to spend USD250b in energy projects by 2017: Apicorp
03 Nov 2012
(MENAFN) A new study by the Arab Petroleum Investment Corporation (Apicorp) expected the Middle East and North Africa region to need USD250 billion investments in its power sector by 2017 to meet regional electricity demand growth, Arabian Business reported.
Power capacity in the MENA region is estimated to grow by 7.8 percent annually, translating to a capacity increment of 124 gigawatts, according to Apicorp.
The study found that MENA has more than 200 planned and announced energy-related projects, including power generation, transmission and distribution (GTD). These projects are valued between USD100 million and USD20 billion.
The report said GCC states hold the lion’s share of investment growth, accounting for 42 percent USD105 billion of total required expenditure, while Iran alone will require USD49 billion worth of investment for power GTD over the next five years.
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