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FINANCIAL NEWS
SEC to spend USD8.7b on power projects in Makkah
14 Feb 2012
(MENAFN) The Saudi Electricity Company unveiled power projects worth over USD8.7 billion being under construction across Makkah Region, Arab News reported.
CEO Ali Al-Barrak said that the company allocated over USD3.21 billion to implement new projects this year.
He added that Saudi Arabia’s annual power output reached 52,000MW, making it similar to developed economies, indicating that power generating capacity increases at an annual rate of 4,000MW.
He said that in terms of consumption, Riyadh tops all the cities in the kingdom with an annual consumption of 12,000MW, followed by Jeddah with an annual consumption of 7,000MW.
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