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GCC to invest over $320bn in energy by 2018
- Middle East: Tuesday, September 02 - 2008 at 07:36
GCC countries are likely to invest more than $320bn by 2018 to develop oil, gas, power and petrochemical projects to meet the energy demands of their fast-growing economies, reported Gulf News. In the UAE, most of the energy-related investments would go towards building new utilities like power and cooling plants to meet the growing demands of the construction business. UAE officials expect the country's electricity demand to exceed 40,800 megawatts in 2020, based on an annual growth rate of 9% beginning in 2007.
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Jeff Florian, Senior ReporterTuesday, September 02 - 2008 at 07:36 UAE local time (GMT+4)
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