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Saudi power plant to cost $4bn
- Saudi Arabia: Wednesday, October 31 - 2007 at 11:20
Construction of the Ras Azzour power and water desalination plant in Saudi Arabia is likely to cost around 25% more than the initial estimate of $3bn, reported Reuters citing bankers financing the project. Construction costs are climbing across the Gulf, driven by increases in global prices for materials such as steel and competition among regional contractors working on $2.4tn worth of projects, which is pushing up wages.
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Jeff Florian, Senior ReporterWednesday, October 31 - 2007 at 11:20 UAE local time (GMT+4)
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