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| Saudi Arabia needs to invest $140b on electricity projects in 10 yrs- Govt |
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Posted on 28 Jul 2010 |
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Saudi Arabia, the Arab World’s largest economy, needs to spend 526 billion Saudi riyals ($140.3 billion) on electricity projects over the next decade to meet the fast growing demand in the kingdom, the Electricity and Co-Generation Regulatory Authority, or ECRA, said.
About 63.7% of that amount will be invested in power generation, while the rest will be spent on power transfer and distribution, ECRA said in its annual report posted on its Web site.
Demand for power grew last year in the kingdom by more than 8% and is expected to grow to more than 60,000 megawatt by 2020.
The Gulf state, which is struggling to supply uninterrupted electricity amid a population boom and industrial expansion, expects Saudi Electricity Co. (5110.SA)to invest $80 billion over the next 10 years to add 20,000 megawatts of power generation capacity.
Dow Jones Newswires
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