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Saudi Arabia says $213bn needed for water, power projects by 2024

: Wednesday, May 14 - 2014 @ 02:28

Saudi deputy electricity minister has said the kingdom needs to spend SR800bn ($213.3bn) over the next 10 years to meet soaring domestic demand for water and electricity, Reuters has reported. “The water and power sectors are among those whose demand is rising at very high rates, to challenging levels,” Saleh Al-Awaji told reporters at an industry conference, adding demand was rising at around 8% annually. “We need investments in water and power sectors in the ten coming years, worth around SR800bn, and we expect the private sector investment to be 30% either in power or water.”

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Wednesday, May 14- 2014 @ 2:28 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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