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FINANCIAL NEWS
Saudi to invest USD213b in water, electricity in 10 years
15 May 2014
(MENAFN) Saudi Arabia plans to invest more USD213.3 billion in water and electricity sectors over the coming 10 years, according to Arab News.
Demand for power and water in Saudi boosted significantly in recent years as Saudis consume more to support affluent lifestyles and escape the searing summer heat.
Saleh Al-Awaji, deputy electricity minister, said: “The water and power sectors are among those whose demand is rising at very high rates, to challenging levels.”
Saudi Electricity Co. (SEC) plans to invest USD165.826 billion between now and 2023, adding 40,000 megawatts (MW) of installed generating capacity and expanding transmission and distribution networks.
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